Woodside: execution of a covered land investment opportunity

Through its relationships, Ojala identified two contiguous lots in a highly desirable area of Uptown Dallas that were improved with unique 1980’s vintage office buildings. Due to the seller’s misunderstanding of the in-place zoning and entitlements, Ojala was able to acquire the property at a basis well below market value. Ojala recognized the option value in being able to occupy, redevelop and/or re-sell the property.

Ojala occupied the property along with a number of 3rd party tenants until opportunistically selling the property to a nationally recognized multifamily developer in order to generate a substantial profit for its investors. 

Transaction Background
Entity:
Ojala Woodside Owner, LP
Investment:
2828 & 2838 Woodside
Strategy:
Covered land acquisition
Location:
Dallas, Texas
Investment Date:
December 2013
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