THE OPPORTUNITY

In 2016, Shopoff acquired 22 acres of raw land in La Quinta, California, for $7.25 million. Located 25 miles east of Palm Springs in the Coachella Valley, La Quinta has become a desert destination in recent years, attracting vacationers and snowbirds, as well as families seeking more affordable housing outside of coastal cities. The property is surrounded by high-quality developments, including the La Quinta Resort & Club, the Rancho La Quinta Golf Club, Lake La Quinta, and Indian Wells Golf Club, as well as numerous restaurants and shopping venues.

HOW SHOPOFF IS ADDING VALUE

Shopoff originally planned to develop the land as single-family for-sale homes and secured entitlements. Market changes caused the team to pivot to a for-rent product, realizing market demands would better support this product type. The team decided to construct build-to-rent (“BTR”) single-family rental homes. An emerging product segment in the United States, BTR works much the same way as a typical multifamily community, but with single-family detached residences. This provides renters with the benefits of single-family living without the hassle of home ownership and appeals to both young families and snowbirds alike.

THE RESULT

Shopoff broke ground on the project in January 2022, with the project completed in late 2023. SolTerra Luxury Rental Homes includes 131 single-family, build-to-rent homes featuring one- and two-story units, with three- and four-bedroom floorplans ranging from 1,520 to 2,441-square-feet.

The newly constructed homes feature modern and sophisticated, large open floor plans, with two bay garages, smart home features, stainless steel appliances, as well as large, covered decks and/or ground floor patios. The community itself is amenity-rich with onsite pocket parks, a pool, a clubhouse, and a gym. The property is 93% leased as of May 2025. Leasing for SolTerra Luxury Rental Homes is being managed by Cushman & Wakefield. The property is now being marketed for sale to a multifamily owner. Learn more at www.liveatsolterralq.com

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.

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/