PHAROS CAPITAL GROUP LLC
Understanding Maximizing Renewal in a Class AA Asset
High Profile Client
3,679 Rentable Square Feet

Situation

Pharos Capital Group is a private equity firm with $600M worth of capital under management and has been ranked number four in Black Enterprise 2010, as the top minority owned financial services company in the country.  A fast growing company in portfolio/fund management and investments, needed to retain their current space, while leveraging their current landlord for additional savings.  The decision was to renew and leverage the history of occupancy with the current landlord.

Approach 

Leverage the market in the Uptown Turtle Creek area against the Crescent landlord by financially structuring a deal with a competitive blended rate over the life of the lease, a competitive termination option and free rent in the first year of the lease.  In addition, it was important to educate the current landlord on the value and quality of our client and the potential for expansion as the firm grows. 

Results 

• Five year lease
• Free rent in the first year
• Termination option in year three
• Competitive rate based on current market in the Uptown Turtle Creek submarket