Case Study 1 of 10

Union Heights – Branching Capital Legacy

Salt Lake City, UT | Acquired 2014 | 25.3% IRR
Retail
CASE STUDY 2  |  THE POWER OF COMPOUNDING

Union Heights: A Branching Capital Legacy

4.46x equity multiple on original capital — and the compounding continues.

2014–2019

Union Heights

Retail — Salt Lake City  |  25.3% IRR
Retail Site Image
2020 → Present

Central Park

Retail Shopping Center Image
Retail — Crystal Lake, IL
13.23% CoC
current cash-on-cash
24.28% CoC
Cash-on-cash on Original Equity
Purchased June 2020 for $7.15M. Current valuation $8.35M.
Union Heights 1031 exchange proceeds redeployed into stabilized retail with strong ongoing cash flow.
2020–2026
Before
After
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After Image

Shoppes at Legacy

Retail — Phoenix MSA
15.75% CoC
Cash-on-cash at sale
30.92% CoC
Cash-on-cash on Original Equity
Acquired June 2020 at $9.0M. Pushed rents from ~$15/SF to ~$25/SF on 62% of suites. Under contract April 2026 at $14.175M — well above the $11.5M underwritten exit.
2026 → Present
Before
*Post Close Renderings
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Webster Industrial

Industrial — Dayton, OH
~17% IRR
Projected
Legacy proceeds 1031-exchanged into Webster, May 2026 at $20.25M. 100% leased, supply-constrained infill, mark-to-market upside continues.