THE OPPORTUNITY

On January 31, 2017, Shopoff and JV partner, Argosy Real Estate Partners, purchased 20.47 acres of industrial-zoned land in Anaheim, California, for $38 million, which included 356,187 square feet of existing structures.

Located at 901 E. South Street in Anaheim Colony, the property is steps from the Anaheim Packing District and near top attractions like Disneyland and the Convention Center, making it ideal for housing in a strong tourism-driven market.

HOW SHOPOFF IS ADDING VALUE

The firm used its entitlement expertise and worked closely with the City of Anaheim, following the municipality’s Residential Opportunity Overlay Zone plan, which allowed for a more rapid processing of entitlements. Shopoff was able to secure entitlements for the property in late 2017 that allowed for two distinct housing product types with a total of 546 units.

The new housing developments provided much-needed housing for this redeveloping City, with residents benefiting from living within walking distance of popular restaurants and entertainment.

THE RESULT

The project was sold in two parts:*

• Phase 1, a for-sale component with 232 attached and detached single-family homes, was sold in July 2018 to a publicly traded home builder.
• Phase 2 consisted of the multifamily rental component entitled for 314 apartment units, and was sold in July 2019 to a multifamily developer.

Disclosures

An investment in a Shopoff fund involves a high degree of risk, including the possible loss of your entire investment, and is illiquid with an uncertain liquidity date. This material does not constitute an offer to sell or a solicitation of an offer to buy any security. Securities offered through Shopoff Securities, Inc. Member FINRA/SIPC. *While this transaction was successful, past performance does not guarantee future results. Each asset and market environment is unique.

These properties are one of a number of properties that are managed by Shopoff Realty Investments, and owned by open and closed investment funds. For the listing of all Shopoff’s current holdings visit: https://www.shopoff.com/current-assets/