SAN DIEGO—While many companies choose to diversify by investing in other markets while staying within their preferred property type, moving into different asset classes within your geographical area is another option, RAF Pacifica's founder and president Adam Robinson tells GlobeSt.com.
As we recently reported, the San Diego-based owner, operator and developer has acquired the 39,000-square-foot retail portion of Pacific Station, a 100,000 square-foot mixed-use asset encompassing residential, office and retail space, for $24 million in an off-market transaction. The retail center is currently occupied by high-quality national tenants including Amazon, Whole Foods and Wells Fargo. Matt Moser at Retail Insight represented RAF Pacifica as well as seller Loja Retail Partners.
Robinson said in a prepared statement that this acquisition is well-aligned with the firm's ongoing strategy to diversify its portfolio throughout San Diego County. “This acquisition is demonstrative of our approach to diversify our portfolio beyond creative industrial and office and branch out into other product types including mixed-use, retail and multifamily.”
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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.
