Shopoff Realty Investments has closed its Shopoff Commercial Growth and Income Fund III offering after meeting the fund’s closing deadline, raising more than $20 million in equity.
Shopoff Commercial Growth and Income Fund III is a private placement offering that invests in opportunistic and value-add commercial real estate across the United States. The fund intends to acquire select real estate and real estate–related investments, with the goal of repositioning and creating value for each asset, ultimately increasing long-term values and cash flow. It is anticipated that each property will be sold to a buyer of stabilized commercial real estate once the property’s business plan is complete. To date, the fund has invested in five commercial assets, located in California, Nevada and Texas.
“The commercial real estate market continues to provide viable investment opportunities to reposition assets that are not living up to their full value potential,” explained William Shopoff, Shopoff Realty Investment CEO. “Utilizing our 26 years of experience, Shopoff Commercial Growth and Income Fund III 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.”
Shopoff Commercial Growth and Income Fund III is the third fund in a series of offerings that focus on investing in commercial properties that provide a value-add opportunity through repositioning. Returns are created primarily through full-cycle capital gain events where Shopoff typically returns capital when asset investment goals are met.
Recently, the firm closed an additional private placement, Shopoff Land Fund V, with a total raise of more than $70 million. Collectively with Shopoff Commercial Growth and Income Fund III, and several tenants-in-common transactions, the firm has raised in excess of $135 million in equity since January 2017.