Shopoff Realty Investments, Praelium and Singerman Real Estate, LLC Acquire 126,500 Square Foot Office Building in Charlotte, North Carolina

CHARLOTTE, North Carolina, March 10, 2022 /PRNewswire/ — Shopoff Realty Investments (“Shopoff”), Praelium and an affiliate of Singerman Real Estate, LLC (“SRE”) announced today that the company has acquired Three Resources Square, a four-story building in Class A, 126,500 square foot office building on 13.62 acres at Charlotte, North Carolina

The building is currently anchored by premium tenant Republic Services, Inc. (NYSE: RSG, Moodys: Baa2), with a market capitalization of $38.6 billion.

“This property is well positioned in the University Tech market of Charlottewhich has seen an influx of top companies in recent years, including Credit Karma, Lending Tree Lowe’s and Centene Corporation,” explained President of Shopoff and CEO Guillaume Shopoff. “With a prime location and a quality tenant like Republic Services, we are confident this property will be a solid investment for the partnership.”

Charlotte and the surrounding suburban markets offer a fast-growing, well-educated workforce, a relatively affordable price, and a high quality of life that help support the office market and attract big business.

Scott G. San Filippofounding director of Praelium Commercial Real Estate, added: “Charlotte continues to emerge as one of the fastest growing office markets in the country, having recently surpassed total pre-pandemic employment for the metro as well as the percentage of office workers accessing their physical workspace compared to to the national average. We are delighted to acquire Three Resource Square in another joint venture with Shopoff Realty Investments, and our first venture with SRE. »

Shopoff, Praelium and SRE plan to make value-added improvements to the property, including potential updating of common areas and outdoor space, addition of a tenant lounge, indoor/ exterior and upgrade of gym facilities.

Ian RussellHead of Acquisitions at SRE, said, “This was a unique off-market opportunity, made even more attractive by partnering with best-in-class sponsorship, Praelium and Shopoff. SRE’s knowledge and experience in this submarket, along with sustained investment across real estate asset classes in the Carolinas, has enabled us to move quickly to complete a transaction that should benefit from the tremendous growth of the region.”

About Shopoff Realty Investments
Shopoff Realty Investments is a Irvine, Californiareal estate company with a 30-year history of value-added and opportunistic investing across United States. The company is primarily focused on proactively generating appreciation through the repositioning of income-generating commercial properties and land asset law. The 30-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied over this period, with some offers generating losses. For more information, please visit www.shopoff.com or call (844) 4-SHOPOFF.

Disclosures
This is not an offer to buy or sell securities. Such an offer may only be made through the offering memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risk and is only suitable for investors who do not require cash and who can afford the loss of their entire investment. There can be no assurance that any strategy will be successful in achieving its investment objectives. The performance of this asset is not indicative of the future results of other assets. Securities offered by Shopoff Securities, Inc. member FINRA/SIPC, 18565 Jamboree Road, Suite 200, Irvine, California 92612, (844) 4-SHOPOFF.

About Praelium Commercial Real Estate
Praelium is a commercial real estate consultancy founded in 2015 and based in Orange County, California. Directed by Michael E. Meyer and Scott G. San Filippo, over the past decade, the partners have worked to acquire and stabilize 5 million square feet of real estate. Using its proprietary, research-driven and data-driven approach, the firm is focused on acquiring exceptional commercial real estate investments, with a primary focus on office projects located in the South East and West the United States.

About Singerman Real Estate, LLC
Singerman Real Estate, LLC (“SRE”) is a Chicagoan opportunistic real estate investment firm with deep experience in executing complex transactions and unlocking intrinsic value through ownership of properties, mortgages and operating companies. Currently, SRE invests on behalf of SRE Opportunity Fund IV, LP, a fully discretionary 2021 vintage investment vehicle with over $800 million commitments and additional co-investment capacity through existing LPs of more than $250 million. Since 2010, SRE has sourced and executed, with partners, more than $3.2 billion investments in the main types of properties.

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SOURCE Shopoff Real Estate Investments

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