THE OPPORTUNITY

In August 2017, Shopoff acquired 577 acres of aggregate-rich land in unincorporated Riverside County, Northwest of the City of Perris, California, for $4 million. The property is located at the intersection of Rider Street and Seaton Avenue, providing easy access via Interstate 215. The site was designated by California as MRZ-2, or an area containing mineral resources of prime importance. The property had not been actively mined for several decades.

HOW SHOPOFF IS ADDING VALUE

After purchasing the land, Shopoff completed surveying and testing to determine potential uses for the property and secured mineral rights. With the land rich in valuable, high-grade aggregate materials, Shopoff began crafting a strategy to secure vested mining rights for the property so it could be later developed into a modern operational aggregate rock quarry.

THE RESULT

Before Shopoff was able to secure mining rights, the firm received an unsolicited offer, resulting in the mutually beneficial sale of the land for $23 million in June 2023 to a San Diego-based developer Lansing Companies.*

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/