RB Medical Plaza

Case Study

Project Overview

RB Medical Plaza was acquired by Compass Capital Investments with a strategic plan to convert
the asset into 39 office/medical condominium units for individual sale.
The property was acquired at $241 per square foot, with condominium units projected to be
marketed at approximately $625 per square foot.
Occupied units will be offered to existing tenants or investor buyers, while vacant units will be
positioned for sale to owner-users.
The business plan includes approximately $1.5 million in capital improvements, encompassing
upgrades to the parking lot, exterior façade, restrooms, common areas, roof, HVAC systems,
signage, doors, drive aisles, elevators, and ADA accessibility enhancements.
The sellout of the 39 office and medical condominium units is projected over an estimated four-
year period.

Purchase Date

April 9, 2026

Acquisition Price

$18,250,000 ($241 PSF)

Buildings Acquired (SF)

Two (75,598 SF)

Projected Project Level Equity Multiple

1.87x

Projected Project Level IRR

22.7%

Preferred Return

Hold Period

4 Years

21.8%+ Projected Total Cash on Cash Return

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