Shopoff Sells 16 Acres of Land After Securing Entitlements for 124 Townhomes in San Diego County
Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, has sold 16.1 acres of land entitled for 124 two-story townhomes in the Northern San Diego County suburb of Vista, CA, to a residential developer. The land, known by local residents as Delpy’s Corner, is currently vacant.
Shopoff partnered closely with Vista city officials to create a zoning plan that would benefit area residents and help ease a lack of housing inventory in the local community. The company worked through the entitlement process, navigating the engineering hurdles of a hillside development, while also garnering community approval.
“We are pleased to see this investment go full-cycle, knowing that residents in the City of Vista will soon benefit from new housing options in this supply-constrained market,” said Shopoff Realty Investments CEO William Shopoff. “We believe our vision of this hillside townhome community will blend seamlessly with this picturesque coastal town.”
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 25-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 25-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group).
