New Company to Give “Everyday Investors” Access to San Diego Multi-Family
- May 01, 2014
Two veterans of the CRE business in San Diego have launched a new company that will focus on providing “new investment options in commercial real estate,” specifically in the multi-family market, the company, Perry Commercial RE Investments, announced Tuesday.
The two founders are principal Bradford Perry, who founded Perry Commercial RE in San Diego in 2008, and director of investments Linville Martin.
The new company’s niche is to serve investors looking to diversify their portfolios with real estate, but who lack the equity or experience to do so.
“Many individuals are interested in diversifying their portfolio by investing in commercial real estate but are without the opportunity to do so unless they invest in REITs,” Perry said in a release.
Such individuals need not necessarily be high-net-worth individuals, Perry told Commercial Property Executive. “Investors with 401(k) accounts are prospective investors as well, as most of them do not understand that they can ‘self-direct’ investments in commercial real estate projects as well.”
The amounts invested, Perry said, can be as little as $25,000 up to $100,000.
Focusing on multi-family properties, Perry Commercial RE Investments will use a group investment strategy by assembling a group of investors and then identifying, analyzing and acquiring properties that deliver acceptable returns.
The company notes the fact that San Diego currently has the second-lowest vacancy rate for rental properties in the United States (2.7 percent) according to REIS Reports.
Unlike a REIT, Perry Commercial RE Investments will allow investors to study, understand and elect to participate in each investment, with direct access to the investment team and property managers who will handle the day-to-day operations.
“Our investors will have the opportunity to see … the property before they choose to invest in it, which is one significant advantage that the group investment strategy provides them,” said Perry.
Perry’s 23-year career in CRE includes property management for high-rise office buildings, asset management, landlord representation, tenant representation, and investments sales. Since 1997, he has been involved in transactions exceeding $424 million in value. Perry has been a licensed California attorney since 1988.
Martin is a former attorney who specialized in transactional law and real estate litigation and has been involved in numerous redevelopment projects in San Diego. He has been a broker for over 20 years and represented national and local developers. Currently, he is a member of the board of the San Diego chapter of Lambda Alpha International, as well as an instructor and lecturer at the University of California – San Diego and the University of San Diego.
Other Perry Commercial RE Investments professionals include Jose Luis Bouvet, who focuses on multi-family projects throughout San Diego County, and Celso Tomas Jimenez, who represents investors from Mexico.