We acquired a 208 unit apartment building next to the Google headquarters in Mountain View, CA. The business plan was to re-entitle the 9.8 acres to higher density (500+ units) and offer 30% of the units as affordable. However, development of any kind is risky in California, and protestors delayed the process by years. As a result, investors received 80% of their capital. Lesson: We no longer do business in California, sadly.
Village Lake Apartments, Mountain View
Status: Completed Projects