Disclosure NewswireTMiCrowdNewswire - Sep 13, 2017
PERRIS, Calif. — Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced today that the company has acquired the Mead Valley Quarry, a 577-acre vacant land site in unincorporated Riverside County, Northwest of the City of Perris, Calif.
“This purchase presented an excellent opportunity to acquire a large piece of raw land in Riverside County,” said Shopoff Realty Investments CEO William Shopoff. “Due to the site’s designation by the State of California as MRZ-2, or an area containing mineral resources of prime importance, we are planning to entitle a portion of the property for quarry operations. Additionally, we are considering selling a portion of the site for a non-quarry use, and will investigate donating a portion for habitat conservation easements as well.”
The property is located at the intersection of Rider Street and Seaton Avenue, providing easy access via Interstate 215. It is also within a few miles of Lake Perris.
“This is a unique land investment opportunity for the Shopoff team, one where the value is provided by what is in the ground, rather than what could be built upon the ground,” added Shopoff Realty Investments Executive Vice President John Santry. “We will utilize our team’s expertise in the entitlement process and experience in the jurisdiction to maximize the value of the property.”
About Shopoff Realty Investments
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). Performance has varied in this time frame. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.
This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 1120, Irvine, CA 92614, (844) 4-SHOPOFF.
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SOURCE Shopoff Realty Investments