OPC, in a partnership with a strong regional retail owner/operation, acquired a non-performing retail loan secured by a 110,000 sf retail property located in Orange County, CA. In December 2014, the JV partners took title of the property and simultaneously arranged attractive long-term fixed rate financing from a Life Insurance Company to fund a $500K cosmetic renovation of the center. The partnership upgraded the center, added an outparcel retail pad and successfully signed long term leases with Harbor Freight & Tools, Dunkin Donuts and Del Taco. 

  • Asset Type:

  • Size / Occ:

  • Built / Reno:

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  • Local Tenant 

Anchored Neighborhood Center

110,353 sf / 98% 

1967 / 1988 / 2015 ($500K)

$680K at acquisition improved to $1.1 MM at sale

116K population, $89K HH income 

80% national / regional tenants, located on El

Toro Rd. & Rockfield Blvd. with a daily traffic  count of 67K vehicles per day and ½ block  from I-5 (500k vehicles per day).

Gross IRR:

Gross Multiple:

Realized - Deal Returns (55 mo. hold)

52%

6.07x

OAK PASS CAPITAL MANAGEMENT

100 Wilshire Blvd., Suite 1845 I Santa Monica, CA 90401

Phone: 310.728.1200 I Fax: 310.300.1515

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