Private real estate investment firm focused on the acquisition, development and redevelopment of retail and retail driven mixed use properties on the West Coast.
Source appropriate off market acquisition opportunities in the extremely tight Los Angeles market.
The sheer geographic size of the target market required significant manpower to sift through hundreds of potential target sites. The Pegasus team was required to identify ownership of target properties and make contact with appropriate decision makers despite opaque ownership structures, all while maintaining confidentiality with respect to high profile properties and parties. The ultimate success of the project necessitated making discrete, unsolicited contact with sophisticated property owners and convincing them to engage in an off market transaction without running a public marketing process.
Pegasus Services Involved:
Pegasus drew upon its deep bench of experienced real estate professionals and allocated significant resources to scour the market, identify appropriate target properties, research ownership, prepare detailed reporting updates and structure and conduct extensive market tours. Pegasus was able to leverage its reputation, credibility and relationships in the market to successfully contact appropriate decision makers within the applicable ownership entities.
The client was successful in acquiring, on an off market basis, a 25 acre site in North Hollywood – one of the most highly sought after development sites in the Los Angeles market. The site is currently being redeveloped into an approximately 300,000 square foot retail and residential mixed use project.