Shopoff Realty Investments Acquires 13.75-Acre Property in Buena Park for Residential Development
Deal News | Mar 19, 2025 | Shopoff Realty Investments LP
Shopoff Realty Investments, based in Irvine, California, has announced the acquisition of a 13.75-acre property in Buena Park, California, aimed for future residential development. Partnering with a national home builder, Shopoff plans to re-entitle the site for residential use. Currently occupied by Amway Corporation, the site features two industrial buildings with 370,031 sq ft of space and is strategically located with access to major transportation routes. The city backs the residential re-entitlement plans, potentially easing the approval process. The venture, supported by $49 million acquisition financing from JLL Capital Markets, exemplifies Shopoff's strategy of value-add real estate investments. The company has a 33-year history of repositioning commercial properties and land development.
Sectors
- Real Estate Development
- Finance and Investment
Geography
- United States – The acquisition and development plans are taking place in California, USA, involving a national manager of real estate investments.
- California – The specific location of the real estate project is in Buena Park, California, significant for its strategic redevelopment potential in Orange County.
Industry
- Real Estate Development – The article discusses the acquisition and planned development of a property for residential use in California, indicating involvement in the real estate development sector.
- Finance and Investment – The acquisition financing and investment strategies highlighted are central to the finance and investment sector activities.
Financials
- $49 million – Acquisition financing secured for the property development project in Buena Park, California.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Shopoff Realty Investments | Bidding Company | Company | An Irvine, California-based real estate firm specializing in value-add and opportunistic investments. |
| Amway Corporation | Vendor | Company | The current occupant of the acquired property involved in the corporate sale-leaseback agreement. |
| JLL Capital Markets | Financial Advisor | Company | Provided $49 million in acquisition financing for the project. |
| William Shopoff | CEO | Person | President and CEO of Shopoff Realty Investments. |
| Jamie Kline | Senior Director | Person | Senior Director in the JLL Capital Markets debt advisory team. |
| Kyle White | Associate | Person | Associate in the JLL Capital Markets debt advisory team. |