$2M private equity raise for an all cash acquisition of a 10,000-square foot free-standing retail property on a short-term sale leaseback. The property is part of a larger freeway oriented destination retail center. Initially we repositioned the property with a 10-year term NNN lease to DaVita, Inc. (Fortune 500 Company) and we recently completed a $3M early lease renewal. CEP principals maintain a 35% ownership interest. Over the past three-years investors were paid 9.3% annually (quarterly distributions). Investor distributions will increase to more than 12% annually when the new rent starts in 2018.