Shiraz UCSD Medical Center
ABOUT THIS PROJECT
Shiraz USCD Medical Center was sold to the UC Board of Regents prior to the start of construction. The property is one of the largest per SF deals in San Diego history.
PROPERTY FEATURES
- Acquired land, entitled project on UCSD medical campus
- Sold property to UC Board of Regents
- One of the largest per SF deals in San Diego history
- Note that 1033 exchange (eminent domain) was negotiated as part of the sale which includes a property tax savings which is factored into the IRR
- Additionally, the IRR does not include the 1033 exchange benefits of deferring $2.2 million in tax for 3 years
- Please note that Badiee’s personal return was substantially higher