NEWPORT BEACH, CA—Buying value-add industrial properties at well below replacement cost and being very selective about office acquisitions is part of CIP Real Estate's investment strategy, principal Eric Smyth tells GlobeSt.com. The CRE investment and management firm completed in excess of $273 million in commercial real estate transactions from January 2017 to early February 2018.
The robust activity includes six dispositions totaling $246 million across California, Nevada and North Carolina, in addition to the $27.1 million acquisition of a Northern California business park. The company also announced aggressive plans to invest $150 million in strategic acquisitions for its commercial portfolio in 2018.
We spoke with Smyth about the firm's investment strategy, including the markets where it has chosen to dispose of properties and the markets in which it is choosing to acquire properties this year.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
