Shopoff Realty Investments Sells Additional 80 Acres of Land to the Mountains Recreation and Conservation Authority
CHINO HILLS, Calif., June 30, 2021 /PRNewswire/ -- Shopoff Realty Investments ("Shopoff"), a national manager of opportunistic and value-add real estate investments, announced today that the company has successfully sold 80 acres of land in Chino Hills for conservation as permanent open space to the Mountains Recreation and Conservation Authority (MRCA). The land was originally purchased as part of a larger portfolio, with the balance having already been sold. Shopoff previously sold an additional 320 acres of adjacent land to the MRCA in July 2020.
"We are so pleased to be able to complete the sale of this final parcel of land to the MRCA and help to complete their vision of an improved wildlife connection between the State Park and the Prado Wetlands," explained Shopoff Realty Investments President and CEO William Shopoff. "After acquiring this property as part of a larger portfolio, we quickly determined that the land's steep hillsides and rustic terrain would not be suitable for development, and that the property's highest and best use would be leaving it undeveloped as open space, benefiting the public as a whole."
Shopoff sold the property to the Mountains Recreation and Conservation Authority (MRCA), who will own and manage the land. This permanent preservation was made possible by use of funding from the Wildlife Conservation Board and US Fish and Wildlife Service. The property will now provide connectivity and habitat for wildlife and will expand the protected lands adjacent to Chino Hills State Park.
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 29-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 29-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.
Disclosures
This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 770, Irvine, CA 92614, (844) 4-SHOPOFF.
Contact:
Julie Leber
Spotlight Marketing Communications
949.427.1391
[email protected]
SOURCE Shopoff Realty Investments
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