August 10, 2018 Comments (0) Views: 776 California News, Orange County

Shopoff Closes Fund Following $20M Equity Raise

Irvine, CA-based Shopoff Realty Investments closed the Shopoff Commercial Growth and Income Fund III offering after meeting the fund’s closing deadline, raising more than $20 million in equity. The fund is a private placement offering that invests in opportunistic and value-add commercial real estate across the United States.

Shopoff Realty’s William Shopoff says, “The commercial real estate market continues to provide viable investment opportunities to reposition assets that are not living up to their full value potential.” He adds, the fund “will provide the investment capital needed to continue to identify and secure these diamonds in the rough-type properties, and allow us to work diligently to improve each asset’s value and cash-flow over our investment period in an effort to deliver potential returns to our investment partners.”

So far, the fund has invested in five commercial assets, located in California, Nevada and Texas.

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