Shopoff Realty Investments Sells 7-Acre Site in Anaheim Newly Entitled for the Development of 115 Townhomes
Irvine, Calif. – November 17, 2020 – Shopoff Realty Investments (“Shopoff”), a national manager of opportunistic and value-add real estate investments, announced today that the company has successfully sold a more than 7-acre lot located at 1631 and 1691 W. Lincoln Avenue, in the City of Anaheim. The lot has been sold to a major public homebuilder for the development of a 115-unit gated townhome development named “Lincoln At Loara.” Shopoff received final project approval from the City Council in June 2020, along with Planning Commission approval in April 2020.
“Shopoff has worked closely with the City of Anaheim over the past two years, with this as our fourth development in the city,” explained Shopoff Realty Investments president and chief executive officer, William Shopoff. “We are proud to bring another much-needed development to this supply constrained area and look forward to working in this dynamic and evolving city again in the years to come.”
The entitled project is the result of an assemblage of privately owned land and land owned by the City of Anaheim, creating a more than 7-acre site for formal entitlement.
Shopoff added, “The land provided a unique opportunity to redevelop a blighted area into a vibrant, dynamic new neighborhood and we are pleased that the resulting project will provide current and future residents with a quality housing option.”
Upon completion, the project will include 27 three-story buildings, with two- and three-bedroom homes ranging from approximately 1,400 to 1,800 square feet in size. The project will consist of a gated community, which will also include open space amenities such as a community recreation area and pool, pocket parks, lounge areas and a dog park. Centrally located, the property is less than two miles from Downtown Anaheim and the Anaheim Packing District, as well as the Disneyland Resort, offering residents access to an assortment of dining and entertainment options.
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 28-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 28-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 offering 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.