Shopoff Realty Investments Acquires 1,463 Acres of Land for Development in Calimesa, CA
Calimesa, CA – December 7, 2021 – Shopoff Realty Investments (“Shopoff”), a national manager of opportunistic and value-add real estate investments, announced today that the company has acquired 1,463 acres of land in the city of Calimesa, CA, part of Riverside County.
Currently fully entitled, the project allows for a maximum of 3,650 residential units, 250,000 square feet of commercial space, two elementary schools, and approximately 565 acres of open space.
“The Inland Empire has continued to see immense growth over the past decade, and the demand for new housing is at an all time high,” explained Shopoff President and CEO William Shopoff. “Shopoff has played a pivotal role in several area master plans in the past by securing necessary project entitlements, and are thrilled to be able to take this project through the development phase with our partner.”
Located off Sandalwood Drive near the confluence of the 1-10 freeway and 60 Highway, the project location will allow convenient freeway access for future residents to area employment, as well as the greater Inland Empire.
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 29-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 29-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.
This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 770, Irvine, CA 92614, (844) 4-SHOPOFF.