REAL ESTATE INVESTMENT

MG Properties Acquires 215-Unit Community in Orange County's Placentia

MG Properties | April 23, 2022

real estate investor
MG Properties, a private San Diego-based real estate investor, owner, and operator is further expanding their presence in the Orange County, CA with the acquisition of The Herald Apartments.

Built in 2021, this 215-unit community is a rare opportunity to acquire a "class A" asset in Placentia. The strong demographics of the surrounding area make The Herald's exceptional amenity package and high-quality finishes well suited to the market.

The Herald is ideal addition to our Southern California portfolio. We believe Orange County has strong fundamentals and is positioned well for growth in the near term."

Jeff Gleiberman, MG Properties' Managing Director

The seller, Lyon Living, was represented by Mark Peterson, Joseph Smolen, Geoff Boler and Jonathan Merhut of Eastdil Secured. The property was financed by Affiliates of Apollo Global Real Estate Management L.P., originated by Lee Redmond and Greg Stampley also of Eastdil Secured.

About MG Properties
MG Properties is a privately owned, fully integrated real estate company specializing in the investment, redevelopment, and management of multi-family assets. Headquartered in San Diego, California, MG was founded in 1992 by Mark Gleiberman with the mission to enrich communities. MG's current portfolio is comprised of over 28,000 rental homes in California, Washington, Arizona, Nevada, Colorado, and Oregon, including 95 communities.

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REAL ESTATE INVESTMENT

SKB acquires a 24,235 rentable square foot industrial property, located in the historic Ballard neighborhood of Seattle, Washington.

SKB | December 20, 2021

ScanlanKemperBard (SKB) has announced the acquisition of 600 NW 40th Street, an industrial property situated on 0.83 acres just off Leary Way NW between the Ballard and Fremont neighborhoods. The property consists of two warehouses, with one having been recently completed in 2020. The property is currently 100% leased by a single tenant, Glass Eye Studios, who have been operating out of the property since its construction in 1978. Glass Eye Studios is one of the oldest and largest privately-owned glass blowing operations in the country and has served as the training ground for some of the most famed glass artists of the Pacific Northwest. We are thrilled to be making our second investment this month and third overall in the Inter-Bay region of Seattle. We are strong supporters of the manufacturing and community in the area. We hope to preserve that community by making these key acquisitions" SKB President, Todd Gooding, About ScanlanKemperBard SKB is an established real estate developer and operator based in Portland, Oregon. Since its inception in 1993, SKB has originated total portfolio activity of $4.78 billion, comprised of 31.2 million square feet of office, industrial and retail space and 2,154 residential units. With longstanding relationships in each of its markets, SKB has the ability to source, structure and execute value creation across a wide spectrum of real estate opportunities.

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INVESTMENTS

RUBICON POINT PARTNERS ACQUIRES HISTORIC "CROWN JEWEL OF OAKLAND" ROTUNDA BUILDING

Rubicon Point Partners | January 25, 2022

Rubicon Point Partners ("Rubicon"), a woman and minority-owned real estate company specializing in transformative investments, announced its recent acquisition of the iconic Rotunda Building in downtown Oakland from Rotunda Partners II, who have owned the building since 1999 and will continue as a minority owner. Featuring some of the Bay Area's best examples of Beaux-Arts architecture, the building also features a four-story parking garage. Rubicon plans to roll out its "Work From Here" program and put in place a sustainability plan to reduce the building's carbon footprint. The "Work From Here" program focuses on creating workspaces that are amenitized in ways not available at home, emphasizing employee health and wellness while enabling employers to better accommodate a hybrid workforce. Rubicon plans to introduce a state-of-the-art fitness facility, upgraded common areas, hybrid digital conferencing and collaboration infrastructure. We are honored and humbled to be the caretakers of the historic and beautiful Rotunda. We look forward to implementing an improvement plan that will honor its history but also modernize it to allow for a new generation of companies to thrive, We are especially excited to work with key stakeholders to activate Frank Ogawa Plaza and integrate it with the building's indoor space. This indoor-outdoor environment is rare in urban settings like downtown Oakland." Ani Vartanian, Rubicon's co-managing partner. Situated at Frank Ogawa Plaza across from City Hall in Downtown Oakland, the property was built in 1912 and originally designed by Bay Area architect Charles Dickey, who fitted a dramatic elliptical glass dome in the interior atrium. At the time, the dome was said to be the largest of its kind. He was also known for developing a diverse architectural style, fusing elements of Hawaiian and Beaux-Arts design. Dickey's most recognizable California creations, the Oakland Rotunda Building and Claremont Hotel, proudly sit on the National Register of Historic Places. In the early 2000s, prior ownership of the Rotunda reinforced its structure with a full seismic retrofit following the 1989 Loma Prieta Earthquake, transforming it into one of the safest historic spaces in Downtown Oakland. We selected Rubicon because of their track record in transforming historic assets and are confident that they will be great custodians of this Oakland jewel." Phil Tagami, one of the managing partners at Rotunda Partners II. Rubicon purchased the eight-story property through the Rubicon First Ascent Fund, seeing an opportunity to simultaneously preserve an Oakland treasure while reducing its environmental impact. The firm has been busily transforming similar historic spaces from California to Washington for the past decade such as 450 Shotwell, the Storek building, 1125 Mission Street and Masin Block. Rubicon plans to continue offering the building to be used as an event space for galas and events that benefit the City and are essential to the success of the people of Oakland. Being good environmental stewards is important to us at Rubicon. In addition to modernizing the Rotunda, we plan to reduce the building's carbon footprint in the process. We hope the Rotunda Building will serve as a blueprint for how historic spaces can remain sustainable for future generations, Our playbook at the Rotunda Building involves investments in the building systems and the deployment of our technology stack, including machine learning utility management systems. All of these serve to increase efficiency while reducing the building's carbon footprint." Razmig Boladian, Rubicon's co-managing partner. About Rubicon Point Partners When workspaces call for out-of-the-box innovations, Rubicon delivers creative, environmentally driven, and socially responsible solutions. Since its inception, the San Francisco-based woman and minority-owned investment firm has transformed over 2 million square feet of space to sustainably house companies of all sizes, making way for future generations of talented leaders, thinkers, and creators.

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REAL ESTATE INVESTMENT

Pixiu Real Estate and Woodbine Development Acquire The Driskill Hotel

Pixiu Real Estate | May 26, 2022

Pixiu Real Estate, Woodbine Development Corporation and a collective of Austin-based investors have acquired the capital city’s first and most iconic hotel, The Driskill, from Hyatt Hotels & Resorts. Woodbine Development Corporation is the Dallas-based real estate investment firm behind many notable hotel properties in Texas and beyond. Pixiu Real Estate is part of Pixiu Investments, an investment firm owned by Eddie Margain, co-founder of several ventures, including local MLS club Austin FC. Among the investor group is Bryan Sheffield, founder of Parsley Energy and fellow investor in Austin FC. As a destination, The Driskill Hotel has been a shining star for Austinites and Texas-bound travelers since it opened its doors in 1886. As new owners and stewards of this historic property, we’re excited to work with Hyatt, Pixiu and the local investor group, who have a common goal of enhancing this hotel and ensuring its legacy for years to come.” Dupree Scovell, managing partner and chief investment officer at Woodbine The Driskill anchors the Sixth Street Entertainment District in downtown Austin. The new ownership group is looking to maintain and elevate the appeal of the 189-room luxury hotel while also helping to stabilize and revitalize the surrounding neighborhood. The group has expressed initial plans to invest a substantial amount of capital, which is intended to help spur momentum for revitalization along Sixth Street. “We are thrilled about this important acquisition because of what it represents for Austin and for Pixiu Real Estate,” said Eddie Margain. “As an Austinite, I know and appreciate the historical significance of this more than 130-year-old property. And, as our community continues to grow, I believe we need to preserve and revitalize landmarks like The Driskill that have contributed to the making of Austin’s distinct character and spirit.” Margain added: “We made calls to good friends who have the same interest of preserving Austin and a desire to work on a legacy project, and an amazing group came together. Partnering with Woodbine Development has been an incredible experience; they are world-class hotel operators, and they know the hotel industry like none other.” Dallas-based Woodbine brings nearly 50 years of hospitality development and asset management experience to the hotel’s ownership group. The company’s portfolio of work includes Austin’s Hotel Magdalena and Hyatt Regency Lost Pines Resort & Spa; San Antonio’s Hotel Emma and Hyatt Regency Hill Country Resort & Spa; Hyatt Regency Dallas and Reunion Tower and Hilton Dallas/Park Cities; and many other properties throughout Texas and the United States. Woodbine specializes in developing select- and full-service destinations in urban, suburban and inspiring out-of-the-way settings as well as office/mixed-use projects – always creating places people want to be. Just a few blocks from the Texas capitol, The Driskill opened its doors in 1886, quickly becoming known as the Grande Dame of Austin. A confluence of opulence and luxury, the hotel has been the destination of choice for an array of guests over the years – for overnights, special events, SXSW sessions, election-night watch parties, political drink-sipping and deal-making, weddings and engagements (future president Lyndon B. Johnson proposed to Lady Bird during their first date, which took place at the hotel) and much more. While no longer owners of the hotel, Hyatt Hotels & Resorts will continue daily management of the property. About Woodbine Development Corporation Woodbine Development Corporation is a full-service real estate company with nearly 50 years of development, investment, acquisition and asset management experience. With offices in Dallas and Phoenix, Woodbine specializes in hotels, resorts and mixed-use developments throughout the United States. The company’s hospitality portfolio features major brands, independent hotels, full-service destinations and select-service stays alike. Since 1973, Woodbine has been involved in more than $7 billion in commercial real estate projects, including the development, ownership, asset management, repositioning or renovation of over 17,000 hotel rooms. About Pixiu Real Estate Pixiu Real Estate was founded in 2010 and is comprised of an expanding portfolio of real estate properties around Austin and Texas. Among the iconic properties of which Pixiu has ownership are the Littlefield and Scarbrough buildings adjacent to The Driskill. The firm also has ownership in several other buildings downtown. Pixiu Real Estate’s parent company, Pixiu Investments, is a prominent investment firm based in Austin, Texas with investments across multiple industries including real estate, technology, hospitality, energy, and professional sports.

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REAL ESTATE INVESTMENT

ExchangeRight Fully Subscribes $124 Million 30-Property Net-Leased Portfolio

ExchangeRight | April 20, 2022

ExchangeRight, one of the nation's leaders in diversified real estate investments and strategies, has fully subscribed its $124 million Net-Leased Portfolio 50 offering, containing 30 net-leased properties covering 676,976 square feet across 17 states. The portfolio of single-tenant properties was structured to generate consistent investor distributions starting at an annualized rate of 6.12 percent. ExchangeRight has fully subscribed a $124 million 30-property net-leased portfolio focused on essential businesses. The fully occupied portfolio, offered at $124,160,000, includes properties tenanted by CVS Pharmacy, Dollar General, Dollar Tree, Family Dollar, First Midwest Bank, Fresenius Medical Care, Octapharma Plasma, Publix, Sherwin-Williams, Walgreens and WellMed. The offering launched with 10-year, fixed-rate, interest-only financing at 3.26 percent. We are grateful for those investors, advisors and representatives who have placed their trust in us to steward the wealth they have invested in Net-Leased Portfolio 50. We are intent on constructing diversified net-leased portfolios for DST investors designed to produce stable income through economic cycles, preserve investor wealth, defer investors' taxes and provide a strategic exit." Warren Thomas, a managing partner in ExchangeRight ExchangeRight and its affiliates' vertically integrated platform features over $4.8 billion in assets under management, diversified across over 1,050 properties, over 19 million square feet and throughout 44 states. More than 6,600 investors have trusted ExchangeRight to manage their capital. All of the company's current and past offerings have met or exceeded targeted cash flow distributions to investors since the company's founding. The past performance of ExchangeRight and its previous offerings does not guarantee future results. About ExchangeRight ExchangeRight pursues its passion to empower people to be secure, free and generous by providing REIT, fund and 1031 DST portfolios that target secure capital, stable income and strategic exits. The company strategically syndicates net-leased portfolios of assets backed primarily by investment-grade corporations that successfully operate in the necessity-based retail and healthcare industries, as well as diversified value-add portfolios of inline and outparcel retail spaces shadow-anchored by strong-performing grocery tenants.

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