The Paskin Group of Santa Barbara announced that it has just closed its fourth deal in 12 months, acquiring a total of $74 million in assets during the period.
This announcement brings the company’s portfolio, which consists of both commercial and multifamily residential properties, to 1.5 million square feet of assets under ownership.
The Paskin Group builds upon its successful investment track record by continuing to purchase quality assets in growth markets, below replacement cost, and which allow them to add value by leveraging their proven management team and asset upgrade programs. The last 12 months have added over 430,000 square feet of space and 522 apartment units to their portfolio.
Michael Paskin, president and CEO of The Paskin Group, said, “It has been an exciting year for our company to say the least. Market conditions have allowed us to make some very favorable exits for our investors and have also helped create attractive, long-term investment opportunities for us. We’re looking forward to further growth in both our apartment and industrial portfolios in the third and fourth quarters of this year.”
In addition to its properties in Texas, Nevada, Colorado and throughout California, The Paskin Group recently purchased two unique properties in Santa Barbara.
“We identified an off-market opportunity to purchase two well-located properties in a very desirable area of downtown Santa Barbara, just one block from the main retail corridor,” Paskin said. “Both properties have an interesting history, but had been neglected over the years by the previous owner. Although our plans are not definitive at this point as to the future of these locations, we’re excited to play a part in the revitalization and beautification of this busy Santa Barbara corner.”
The property consists of more than 14,000 square feet of commercial space and 20,000 square feet of land.
The Paskin Group is a real estate investment and management company based in Santa Barbara with assets located throughout the United States. Click here for more information.
— Marjorie Large is a publicist representing The Paskin Group.