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PROJECTS

VALUE-ADD APARTMENTS

From 2001-2006, CEI’s strategy was focused on purchasing off-market heavy value-add multi-family assets. CEI purchased and rehabilitated over 70 properties comprising of approximately 3,500 units. In late 2006, CEI began to notice cracks in the credit markets and by 2007 advised its partners to start selling properties. By the end of 2007, CEI successfully sold approximately 80% of its portfolio for significant gains.

Ventana

In 2006 we purchased a 300 unit garden style apartment complex in Denver, Colorado and added value by renovating common areas and unit interiors and maximizing market rents.

Prime Las Vegas

Prime is a value-add multi-family project completed in 2015. This re-invented collection of spacious one, two and three bedroom apartment homes was thoughtfully crafted with every possible lifestyle in mind.

Koreatown Redevelopment Project

In 2003, we acquired the historic Kipling Hotel with the intention of repositioning the project to better address the housing shortage in Koreatown and adjoining downtown Los Angeles. The property consisted of two buildings, one was mostly vacant and the other was down to the studs and required a full renovation at the time of purchase. We began work with the city of Los Angeles to rezone the property to “light housekeeping.” The building underwent major restoration to modernize the mechanical, plumbing and electrical systems. The exterior façade and common areas were restored to accentuate the buildings’ original 1920’s style and décor. The 139 units were successfully marketed achieving 95% occupancy and the ground floor retail space was rented to a successful restaurant operator who signed a long-term NNN lease.

15 Building Portfolio

In 2004, we purchased 15 buildings (792 units) in Hollywood and Los Angeles, California. These projects offered redevelopment opportunities that support substantial equity creation. We implemented a capital renovation program targeting property improvement and deferred maintenance. The properties were successfully sold in three phases within a 2 year period.

Fullerton Apartment Project

In 2004, we purchased an 88 Unit Multi-Family building in Fullerton California. The asset management team raised project value by maximizing market rents while managing operating and capital expenditures. The project was successfully renovated and sold within 18 months.

Mid Wilshire Value Add Portfolio

Between 2001-2009, we purchased 45 buildings totaling 1350 apartment units in the mid Wilshire district of Los Angeles. With an experienced management team, the properties were renovated and NOI was significantly increased with a combination of rental growth and reduction of operating expenses.

Mid Cities Los Angeles Workforce Housing

Purchased in 2003, we acquired 4 value add projects totaling approximately 200 units of workforce housing from a single owner. We added tremendous value through renovations and maximizing market rents.

Single Family Portfolio

In 2008 and 2009, as the debt and equity markets collapsed, CEI shifted its strategy to focus on a hard-hit real estate asset class: single family homes. CEI purchased 50 distressed homes in California and Nevada, both to rent and for immediate resale.

San Fernando Valley Value Add Portfolio

Between 2002-2004, we purchased 5 buildings totaling 200 units of workforce housing in the San Fernando Valley. The project was successfully renovated and rents were maximized to market levels.

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