{"id":14250,"date":"2007-04-01T15:28:00","date_gmt":"2007-04-01T13:28:00","guid":{"rendered":"https:\/\/paragon-sa.ch\/?post_type=transaction&#038;p=14250"},"modified":"2023-06-08T11:26:34","modified_gmt":"2023-06-08T09:26:34","slug":"green-park-center","status":"publish","type":"transaction","link":"https:\/\/paragon-sa.ch\/fr\/transaction\/green-park-center\/","title":{"rendered":"Sale &#038; Leaseback : Tech Industry"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Sale &amp; Leaseback with PKE (Philips)<\/h2>\n\n\n\n<p class=\"has-text-color\" style=\"color:#6a6b75\">Mike Wolfson led lease negotiations with the anchor tenant, PKE, a spin-off of Philips. At acquisition, the building was mostly occupied by PKE but there were a handful of third party tenants, and the entire 3rd floor was vacant. It was possible to argue at the time that PKE&#8217;s rent was slightly above market, and therefore, the lease negotiations were complex.<\/p>\n\n\n\n<p class=\"has-text-color\" style=\"color:#6a6b75\">The result of a long and arduous negotiation was that occupancy increased from 75% at acquisition to 100% within the first year of ownership, and the lease duration was pushed from approximately 6 years to 10. We were able to achieve this by finding win\/win solutions with PKE that included some free rent and improvements to the space in exchange for a longer term lease.<\/p>\n\n\n\n<p class=\"has-text-color\" style=\"color:#6a6b75\">The building was sold to Credit Suisse Asset Management in 2008 at a significant profit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mike Wolfson led lease negotiations with the anchor tenant, PKE, a spin-off of Philips. At acquisition, the building was mostly occupied by PKE but there were a handful of third party tenants, and the entire 3rd floor was vacant. It was possible to argue at the time that PKE&#8217;s rent was slightly above market, and therefore, the lease negotiations were complex.<\/p>\n","protected":false},"featured_media":14295,"template":"","format":"standard","_links":{"self":[{"href":"https:\/\/paragon-sa.ch\/fr\/wp-json\/wp\/v2\/transaction\/14250"}],"collection":[{"href":"https:\/\/paragon-sa.ch\/fr\/wp-json\/wp\/v2\/transaction"}],"about":[{"href":"https:\/\/paragon-sa.ch\/fr\/wp-json\/wp\/v2\/types\/transaction"}],"version-history":[{"count":1,"href":"https:\/\/paragon-sa.ch\/fr\/wp-json\/wp\/v2\/transaction\/14250\/revisions"}],"predecessor-version":[{"id":14881,"href":"https:\/\/paragon-sa.ch\/fr\/wp-json\/wp\/v2\/transaction\/14250\/revisions\/14881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/paragon-sa.ch\/fr\/wp-json\/wp\/v2\/media\/14295"}],"wp:attachment":[{"href":"https:\/\/paragon-sa.ch\/fr\/wp-json\/wp\/v2\/media?parent=14250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}