SANTA MONICA, CA - Vista Investment Group LLC (VIG) has relocated to its new corporate headquarters at 2114 Pico Boulevard, following the firm’s completion of a multimillion-dollar renovation of the 9,000-square-foot building, announced VIG President Jonathan Barach.
VIG currently occupies approximately 2,000 square feet on the second floor of the two-story building with plans to expand to 3,000 square feet by the end of the year, according to Barach. The remainder of the building is fully leased to a variety of entertainment businesses.
VIG acquired the multi-tenant building one-and-a-half years ago for $4.4 million to accommodate the current and future growth of the privately held real estate investment firm, which has grown from $8 million in assets when the company was launched in 2008 to more than $350 million today. Over the past 24 months, VIG has expanded its Southern California footprint to include value-add and opportunistic middle-market investments in urban infill areas throughout California. Combining the financial strength of its balance sheet with that of its equity partners, VIG has built a portfolio that currently includes 1,200 multifamily units and 400,000 square feet of commercial office space in Los Angeles, Silicon Valley and San Diego.
“In 2017 we plan to increase our investment activity by continuing to identify demographically changing, supply constrained markets whose potential has not yet been recognized by the general market,” said Barach. “Since we are not reliant on outside capital, we have been able to respond to and close quickly on opportunities as they present themselves. As a result, we have done well by being ahead of the market from an investment standpoint and then repositioning the assets to meet the future demands of emerging neighborhoods such as Echo Park, MacArthur Park and Baldwin Hills.”
To help manage the firm’s growing portfolio, Barach also has announced that Nati Soffer has joined the firm as Director of Portfolio Management and Commercial Asset Management. Soffer, who brings to VIG more than 15 years of related experience, is charged with maximizing over-all performance of company’s growing real estate portfolio. Soffer comes to VIG from CIM Group where he oversaw the performance of CIM’s diversified $16-billion property portfolio. He formerly served as senior real estate analyst at Macerich, a prominent owner and developer of regional malls throughout the nation.
“As a firm, we focus on value-add investments. The key to achieving high returns with value-add is in the sound execution of the business plan, and in order to do that you must have a powerhouse asset management team. Vista’s foundation is built upon the leadership team’s experience at large, blue chip firms such as Doubleline Capital, Barclays Capital, BlackRock, Carlyle, and StarPoint,” added Barach. “Nati’s work with CIM and Macerich strengthens that foundation.”
About Vista Investment Group: Vista Investment Group, LLC is a privately held real estate investment firm engaged in the acquisition and active management of commercial real estate in the western United States. Established in 2008, and headquartered in Santa Monica, CA, the Company focuses on value-add and opportunistic strategies in the multifamily, mixed-use and office sectors. Vista’s portfolio, primarily located in urban infill markets within California, includes approximately 1,200 multifamily units and 400,000 square feet of office space.