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Vista Investment Group Successfully Exits Four CRE Investments in Five Weeks for $334 Million
Santa Monica, CA-based real estate investment firm eyeing multifamily and flex/R&D opportunities in Denver, Salt Lake City and the Pacific Northwest
By: Vista Investment Group
The four assets, which also included Vasona Technology Park, a 314,000-square-
"These dispositions represented opportunities to markedly outperform our pro forma and return money to our investors. We look forward to the challenge of re-deploying equity into new opportunities in our target markets, and repeating that process," said Barach.
With the sale of the four assets, which significantly enhances Vista's internally-capitalized balance sheet, the company is targeting the acquisition of multifamily and flex R&D commercial office property in Denver, Salt Lake City as well as key markets in the Pacific Northwest.
The sale of The Pointe comes only two years after Vista and its partner acquired the garden-style community, then known as Green Leaf River Pointe. Under Vista's direction, the joint venture completed a unit renovation program that included new flooring, upgraded lighting fixtures, stainless steel appliances and refreshed cabinets and countertops. The clubhouse, pool deck and outdoor amenities were also upgraded.
Josh McDonald, First Vice President in CBRE's Institutional Multifamily Investment Service's team out of the Portland, OR office, represented Vista in the transaction.
About Vista Investment Group
Vista Investment Group, LLC (http://www.vistainvestmentgroup.com) is a privately held real estate investment firm engaged in the acquisition and active management of commercial real estate in the western United States. Established in 2008, and headquartered in Santa Monica, CA, the company focuses on value-add and opportunistic strategies in the multifamily, office and mixed-use sectors. Vista's portfolio ranges from private capital to institutional deals in target markets within California, Pacific Northwest, Utah and Colorado.
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