In November 2017 Westkin Properties was acquired. The investment consists of a collection of 2,096 condominium and business subleases, 2,091 of which are individual condominiums in Cathedral City, County of Riverside, California. The business subleases include several resorts in the Palm Springs area along with the 64,166 square foot Cathedral Canyon Business Park. In addition, the investment includes approximately 57 acres of fee owned land and is set up as a sandwich lease, where the primary party is both a lessee and a lessor (meaning that the party both collects rent and pays rent).
A unique real estate based investment, the business plan is to streamline several of the investment’s operational efficiencies, as well as optimize and modernize the master leases.
This is neither an offer to sell nor a solicitation of an offer to buy any security. An investment in a Shopoff limited partnership involves a high degree of risk, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA/SIPC.