Menlo Park, CA (PRWEB) June 28, 2005
HG Capital, LLC (HG) announces joint venture with Focus REAL ESTATE LP, to acquire 4 35 acres of land on three parcels in the Waterman Place business park in San Bernardino, CA. The project is the development and eventual sale to owner-users of seven individual industrial buildings all ranging in size from 8,500 square feet to 14,500 square meters for a total project of 76,000 square feet. HG Capital invested approximately $ 1.4 million capital project in the field and closed with a construction loan from Alliance Bank.
The substantial growth in the industrial sector Inland Empire was due in large part by increased imports from overseas, has generated a strong demand for owner-user assembly, manufacturing and distribution centers in the region. the location of the proposed solid fill in the business park established Waterman Place, the demand for owner-user facilities, and expertise in Real Estate Development Focus area make it a worthwhile investment for HG.
Lee Herrick Johnson & Associates in Riverside, California (www.lee-associates.com/riverside) is the rental and sales broker for the project.
about the Capital, LLC HG
HG Capital, LLC (HG) (www.hgre.com) is a real estate investment group that provides joint venture capital for owners and developers of the value-added and opportunistic real estate projects in the western U.S. USA. HG makes principal investments of the discretionary management of private equity funds HG Capital. HG manages over $ 100 million in capital and has invested in over $ 1 billion worth of projects since 1994. With offices in Menlo Park and Newport Beach, California, HG has established a track record of success is its highly responsive and entrepreneurial approach to real estate investment.
About Focus
REAL ESTATE LP
Focus Real Estate LP
(www.focusrelp.com), founded in April 2000, is headed by longtime real estate executive Richard Ortwein. main objective of the company is working with corporate users, landowners and institutional investors to identify, acquire and oversee all aspects of development and construction activity. Uniquely qualified to meet the evolving needs of owners and tenants, Focus Real Estate was launched to provide its customers not only talent management boards, but with the advantage of more than 25 years of experience covering all aspects of commercial and residential real estate development. Given this depth of experience, the management team Focus Real Estate is well positioned to help clients acquire and law of the land for the construction and in arranging financing and oversee construction activities, in all phases of development.
Contact:
Greg Alden
HG Capital, LLC
(650) 322-3400 ext. 202
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