News
High Quality Neighborhood Retail Center Added to Portfolio
Biggest Purchase to Date for Investwest
On September 24, 2008 Invest West Financial closed on the Gateway at Burbank located in Burbank, California. This 74,391 square foot neighborhood retail center is 100% leased with all national tenants such as Ralphs Grocery, CVS Pharmacy, and Starbucks Coffee. We believe this asset is a quality, instututional grade asset that will remain in our portfolio for years to come.
More24 Hour Fitness in Bakersfield Sold
On June 25th, 2008, Investwest Financial Corporation closed the sale of our 24 Hour Fitness Center located in Bakersfield, California.
Pacifica Acquires Laguna Beach Boutique Hotel
By the Sea Inn, purchased in March 2008, is ideally located off the North Coast Highway in Laguna Beach, California. This unique boutique hotel boasts 36 newly renovated rooms situated around a heated outdoor pool, with second floor views of the Pacific Ocean. Pacifica plans to reposition the property through a minor renovation of the exterior and lobby to enhance the guest experience and increase occupancy.
Neighborhood Retail Centers Purchased
CenterVest Capital, a new venture formed between Invest West Financial and WestPac, has acquired two neighborhood shopping centers totaling approximately 289,000 square feet. The Cobblestone Shopping center is anchored by Raley's supermarket and is located in Redding, California. The Heritage Park Shopping Center is also anchored by Raley's and is located in Suisun City, California.
Construction Completed at Crossroads
Construction at The Crossroads, an approximately 15,000 square foot neighborhood retail center located in Hesperia, California was recently completed. Tenants include a drive-thru Starbucks, T-Mobile, Papa John's, and other strong local tenants.
Construction on Florida Hilton Garden Inn Complete
Pacifica Hotel Company recently opened the 130-room Hilton Garden Inn in Port Saint Lucie, Florida. Pacifica partnered with PGA Golf Properties to construct the hotel, which is located adjacent to the PGA Village. The hotel features dining at Sam Snead’s Tavern, a complimentary business center, fitness room, and heated swimming pool and whirlpool.
New Retail Development
A new retail development is being planned for a highly-trafficked corner in Victorville, California.
Pacifica Acquires Marina Del Rey Hotels
Pacifica Hotel Company just completed the purchase of the 157-room Marina del Rey Hotel and the 135-room Marina International. The hotel company plans to upgrade these hotels into a four star and three star resort respectfully, catering to the high demand from business travelers and vacationers. Pacifica Hotel Company Ranks In Top 10
Pacifica Hotel Company was again ranked in the top 10 hotel management companies by Hotel Business Magazine. It was also ranked #7 in Average Daily Rate and #10 in RevPAR. This is the 2nd year in a row the company has received top ten rankings in these categories.
200 Room Hilton Garden Inn Sold
Invest West Financial Corporation just completed the sale of the Hilton Garden Inn located in San Diego, California. The 200 room hotel was completed by Invest West and one of its partners in December 2004.
Ground Breaking at Hesperia Retail
Construction began on an approximate 14,340 square foot corner retail property in early May. Located on a prime corner of two major streets in Hesperia, one of the busiest intersections in the Inland Empire, this project will reposition a former service station site into a high-demand food and retail center. Leases are already signed with Starbucks Coffee, Papa John's Pizza, Quiznos and Bright Now Dental. The development is anticipated to be completed by the end of 2006.
IWFC Purchases 4.3 Acres in Hawaii
On January 13, 2005, Invest West Financial Corporation closed on 4.3 acres of land in Hilo on the Big Island of Hawaii. IWFC is partnering with Pacific Island Investments, a local real estate development company to build 8 garden-style buildings consisting of 105 units. The development will consist of one, two and three bedroom condos. Twenty one of the units will be offered to the County to be sold at affordable prices. Construction will be commenced by the end of Summer 2006.
Pier 1 Imports in Fort Worth, TX sold
Invest West Financial Corporation just completed the sale of a Pier 1 Imports in Fort Worth, TX. The proceeds from the sale will be exchanged into another well located real estate asset.
Tuesday October 11, 2005; Santa Barbara News Press; by Maria Zate _____________________________________________________________
Invest West and Treadwell Robertson formed a new partnership to develop an approximate 14,540 square foot lifestyle retail center. Located on a prime 1.28 acre corner of two major streets in Hesperia, arguably the one of the busiest intersections in the High Desert, The Crossroads will develop a former service station site into a high-demand food and retail center catering to high traffic counts.
Alondra Landing, a 3,300 square foot lifestyle center in Santa Fe Springs, Los Angeles opened its doors in August, 2005. The site was aquired by Invest West Financial Corp. and its partner, Treadwell Robertson in the summer of 2004. Tenants include Starbucks (with drive-thru), Subway, and Check-into-Cash. The property is currently listed for sale with Faris Lee Investments.
An approximate 18,000 square foot building was purchased in June, 2005. Earlier this year, Invest West Financial Corporation sold a property in Houston, Texas. The proceeds from that sale were exchanged into this asset. It is leased to a strong tenant on a long-term basis.
Retail Space Available at The Shops at Bear Valley
Plans to Improve Hotels Already Underway
PHC among top 10 hotel management companies
San Diego hotel sold for substantial profit
14,340 square foot retail center to be completed by end of 2006
105 Unit Condominium Complex to be Developed
Company takes advantage of historic low cap rates
The Santa Barbara-based companies announced last week that it had promoted Matt Marquis, Mr. Marquis’ son, and Michael Barnard to the top positions. Mr. Marquis remains involved in the business in a new role as chairman and chief executive officer.
