SOUTHERN CALIFORNIA FOCUS

  • Inland Empire (West is best)
  • Mid-Counties to Vernon
  • Orange County


EXISTING PROPERTIES

  • $1-15M value range
  • Prefer value-add deals
  • Prefer buildings which were completed after 1990

LAND

  • 1-20 acres
  • Zoned but not yet entitled
  • No groundwater contamination

LANDOWNER JOINT VENTURES

  • Land must be owned with low leverage
  • Contribution value should be less than outright sale value
  • Unleveraged return on cost should be around 7%