Company News
Kingsbarn Acquires 5-Building, Creative Office Campus in Laguna Hills, California
Los Angeles, California, November 21, 2022 – Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced the acquisition of the premier low-rise, creative office campus in the South Orange County submarket located at the intersection of Mill Creek Drive and Ridge Route Drive in Laguna Hills (the “Property”). The Property, known as "HERE at Laguna Hills," was built in 1988 and renovated in 2016 & 2017. The five-building property consists of 233,974 rentable square feet situated on 15.97 acres.
“We are very pleased with the acquisition of the HERE at Laguna Hills Business Park,” stated Kingsbarn CEO Jeff Pori. “This is a very unique property with exceptional access to amenities, executive housing, the Irvine Spectrum, and the I-5 and I-405 freeways.” There are many built-in tenant amenities, including outdoor lounges, a state-of-the-art fitness facility, conference centers, and open-air patios. Additionally, the HERE at Laguna Hills property is immediately adjacent to the Veeh Reservoir which adds ambiance and scenery to the park. Major tenants include Centercode Inc., SpineArt USA, and MemorialCare Home Health. Kingsbarn will offer the Property for investment in a Delaware Statutory Trust structure, thereby making the fractional interests eligible as a 1031-exchange replacement property.
Kingsbarn has partnered with the Kelemen Group, led by Tibor Kelemen, as a management partner and as a development partner for any future redevelopment of the office campus. "We are excited to be working with Tibor and his team on the HERE project," stated Phil Mader, President of Kingsbarn Capital & Development, which is the development arm of Kingsbarn Realty Capital. "Tibor knows this property extremely well and will bring a wealth of experience and knowledge of the local market to our team," Mader further stated.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate-centric investment house that provides institutional and accredited investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange traded funds, traditional investment funds, private placements, and Delaware Statutory Trusts (DSTs). Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $1.5 billion of assets under management and has acquired over 250 properties throughout the United States. The company currently has a development pipeline of over $2 billion consisting of multifamily, student housing, industrial, retail, and hospitality.
Media Contact:
Emma Williams & Holly Silvestri
The Ferraro Group (702) 367-7771
emma@theferrarogroup.com / holly@theferrarogroup.com
No Offer
This is not an offer. An offer will only be made pursuant to the delivery of the required offering documents, including the private placement memorandum, as supplemented or amended (the “Memorandum”) and only in states in which the securities offered pursuant to the Memorandum are registered or exempt from registration requirements, and only by broker-dealers authorized to do so. This information discusses general information about the portfolio and is not a guarantee, prediction or projection of future performance. Diversification does not protect against loss or guarantee return. There are risks associated with investing in real estate assets, such as inflation, interest rates, real estate tax rates, changes in the general economic climate, local conditions such as population trends and neighborhood values, and supply and demand for similar property types. Investing in DSTs and 1031 exchanges involves significant tax consequences. Please refer to the Memorandum for detailed information about the offering and its associated risks and implications.
Forward-Looking Statements
This press release may contain forward-looking statements identified by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. Kingsbarn assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.