SHIRAZ USCD
MEDICAL CENTER
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Acquired land, entitled project on UCSD medical campus
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Sold property to UC Board of Regents
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One of the largest per SF deals in San Diego history
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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
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Additionally, the IRR does not include the 1033 exchange benefits of deferring $2.2 million in tax for 3 years
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Please note that Badiee's personal return was substantially higher