We purchased a small SRO in the Hillcrest neighborhood in San Diego, CA for refurbishing. Sales were slower, selling two projects, one of our older Office projects in Utah and an Industrial project in Colorado.
Acquired a Historical building in downtown San Diego, CA for refurbishing. We sold twelve projects this year with a combination of Industrial and Multi-Family projects. This was a record-breaking year with sales of over $135,000,000.
Purchased a 171-unit Hotel for a conversion to Studios in San Gabriel, CA and a small Multi-Family project in San Diego, CA. Even with the unprecedented event of the Covid lock-down we still sold several of our projects this year.
Acquired two Multi-Family projects in San Diego, CA. Sold eleven of our projects, a combo of Multi-Family and Industrial for a total of $118,925,000 in sales. Sales exceeded expectations and brought in good returns for our investors.
Acquired over 1.45 million SF of industrial product in Denver and several small multi-family development projects in San Diego.
Acquired a retail center in Newport Beach with plans for mixed-use redevelopment, several multi-family projects in San Diego and Salt Lake City, and several industrial projects in Denver, Dallas and SoCal. Sales exceeded expectations and were very profitable for our investors.
Acquired several small apartment projects in the San Diego area, together with several multi-tenant industrial parks in Phoenix and Dallas.
One new commercial purchase occurred in Denver. One new industrial park in Washington. A group of apartment buildings were purchased in Northpark and Ocean Beach in San Diego.
Expansion continued in Salt Lake City with the purchase of a portfolio of apartment buildings totaling 438 units, three industrial parks in Phoenix and one office project in Southern California
Five new Business parks were purchased in Utah, Colorado and Arizona. The Portfolio currently includes 2,040 apartment/condominiums units and 1,420,000 square feet of office/industrial over five states.
WLA focal point continues to be small multi-tenant industrial/office space adding over 270,000 square feet to the portfolio along with 218 apartment units. Sales exceeded $61,000,000.
With the economy showing signs of improvement the WLA portfolio increased by 68 multifamily units and continued expansion in the multi-tenant industrial/office market by adding 71,500 square feet of space.
As difficult times continued WLA was able to complete two sales in 2010, no new properties were added to the portfolio.
Despite a difficult year for commercial real estate, 315 apartment units were added to the WLA portfolio, including 95 fully upgraded condominium units purchased from lenders in short sales.
Focus on multifamily purchases added over 600 units in Salt Lake, Denver, Las Vegas and Southern California. Continued expansion in multi-tenant industrial/office market in the Salt Lake area.
Portfolio includes over 3,000 apartment units and 860,000 square feet of small office or industrial space over eight states.
Further expansion into Salt Lake City with office and apartment acquisitions.
1,489 apartment units added to the WLA portfolio in markets including Phoenix, San Diego, Corpus Christi, and Salt Lake City. Property sales exceeded $95,000,000.
Continued expansion into Nevada and Oklahoma, adding seven properties totaling $119,000,000. Sixteen portfolio properties sold distributing in excess of $73,000,000 to investors.
Multifamily focus on purchases in Las Vegas and Oklahoma. Nine properties sold distributing $35,000,000 to investors.
Total transactions exceed $126,000,000 with addition of 11 properties.
Purchase and sale transactions exceed $70,000,000. Begin acquisition of apartments in Nevada. Portfolio value approaches $200,000,000.
Completes a record year of acquisitions and sales, purchasing nine properties for over $43,000,000.
Identifies Sacramento, California, as an emerging market and purchased 1300 units in 13 apartment communities. Also pursued over 1 million square feet of commercial properties in “lagging recovery” areas of Orange, Riverside and San Bernardino counties in southern California. Portfolio value exceeds $100,000,000.
Focus shifts to California with purchase of 10 apartment communities totaling over 700 units in north San Diego County and inland to the City of Hemet, California. Portfolio value nears $60,000,000.
Investment market expanded to include purchase of 10 commercial office buildings totaling over 750,000 square feet in Denver, Colorado.
Initial formation of investment partnerships, eventually acquiring 15 existing properties in Salt Lake City, Utah, and converting 504 out of 954 apartments to condominiums.
The Formula of Success
Our process of market and property evaluation has repeatedly proven itself for investing clients and the company. It is the foundation upon which WLA Investments seeks to accomplish the ultimate goal: to maximize the effectiveness of real estate investments.
Markets are selected according to their potential to allow multiple asset purchases and the availability of strong local management and professional support. Those with a history of strong cyclical or continuing growth factors are also targeted.
Once a market has been identified, the search for property begins according to pre-established selection criteria. Ideally suited property will have the potential to experience rapid or extreme value increases during typical real estate economic cycles. We look at and analyze secondary and sub-market properties because of their renovation and growth potential. We have typically sought properties that are overlooked by others for a variety of reasons but have potential to increase in value with careful renovation and management.
When a selected property meets the preliminary search criteria, it is further qualified according to tenancy, unit mix, occupant stability and verified income potential. Properties featuring a contemporary configuration are also sought, along with those offering maximum use potential.