Properties

 

Current Investments

 

171 Saxony Road, Encinitas, CA 92024

$4.8M private equity raise and $6.3M financing for the $10.4M acquisition of a boutique multi-tenant office property located in North Coastal San Diego County. The property was 95% leased at the time of acquisition with rising rental rates. The design caters uniquely to smaller tenants who have few competitive options. This dynamic creates strong occupancy and consistent rents. CEP principals maintain a 14.5% ownership interest. We project a 5 to 10-year hold with a cash IRR greater than 11.8%

925 Hale Place, Chula Vista, CA 91914

$2.4M private equity raise and $3M financing for the $5M acquisition of multi-tenant industrial business park. The project has strong historic occupancy. Since acquisition we have completed approximately $250,000 of improvements and have increased rents approximately 20%. The first year of operations provided a 6% investor distribution that was paid quarterly. CEP principals maintain a 13.5% ownership interest. We project a 5 to 10-year hold with a cash IRR greater than 12.5%.

2135 Montiel Road, San Marcos, CA 92069

$2M private equity raise for an all cash acquisition of a 10,000-square foot free-standing retail property on a short-term sale leaseback. The property is part of a larger freeway oriented destination retail center. Initially we repositioned the property with a 10-year term NNN lease to DaVita, Inc. (Fortune 500 Company) and we recently completed a $3M early lease renewal. CEP principals maintain a 15% ownership interest. Over the past three-years investors were paid 9.3% annually (quarterly distributions). Investor distributions will increase to more than 12% annually when the new rent starts in 2018.

 

Past Transactions

 

13855 Stowe Avenue, Poway, CA 92064

$3.2M acquisition and $5.24M sale of a 26,000-square foot industrial R&D property with a 10-year lease to SpaceDev, Inc. The investors’ cash yield was 9% in the first year of ownership and escalated 3% annually. The property was held for approx. 4 years. The overall cash IRR was approx. 18%.

712 Pearl Street, La Jolla, CA 92037

$7.55M acquisition and $20M sale of a mixed-use property consisting of 23 residential rental units and 10,000 square feet of commercial/retail space. Re-developed the property with the renovation of residential condominium units for sale and commercial/retail investment. The investor net profit was approx. $8.5M over a 3-year hold. The overall cash IRR was approx. 29%.