Shopoff Realty Investments, a manager of opportunistic and value-add real estate investments, has completed more than $347.7 million in real estate transactions in 2020. The firm’s annual activity includes 13 dispositions totaling $163.1 million, and seven acquisitions totaling $184.6 million.
“From purchasing land on the Las Vegas Strip for hotel development, to finalizing plans for 30 luxury condos in Newport Beach at Uptown Newport, and also selling our Anaheim Lincoln Townhome project to a public homebuilder, these select examples represent a taste of how our firm was able to have a stellar year, full of activity, despite the challenges that came with 2020,” said Shopoff Realty Investments president and chief executive officer, William Shopoff.
He added, “We anticipate an even more robust pipeline for 2021 and perhaps an even more successful year, as we move forward on many project dispositions, including sales that were pushed from last year.”
Shopoff said that its team was able to navigate 2020’s challenges, including managing through the pandemic, pivoting to remote working, and even transitioning to remote City Council meetings, in order to continue the progress on its entitlement projects.
“We look forward to continuing this positive momentum, buying assets we can potentially transform into their highest and best use, and disposing of current holdings where we believe we have already added significant value,” added Shopoff.
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 29-year history of value-add and opportunistic investing across the United States. The company primarily focuses on generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 29-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group).