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"The San Jose transaction will be a forever memorable one for me. It is a rare opportunity to work with the other side in such a positive light over such a long period of time on such a complicated and large transaction. Your ability to keep the process moving toward closure, while absorbing the vapor management and other convoluted environmental issues, was remarkable.
While both of our environmental experts often disagreed on methodology and risk, you were able to assess both in real terms and communicate those risks in a straightforward yet comprehensive manner to your principals and equity partners, yet never losing sight of the end objective for both Westrust and GE.
Equally important was your ability to aptly adapt to newly discovered site information and hurdles that we all met along the way, not the least of which was negotiating a $50 million environmental insurance policy with AIG within 2 weeks of closing!
Perhaps the best kudos that I could give is to sincerely state that it is your honesty and integrity that I admire most and I would gladly do business with you and Westrust anytime."
Karol W. Augspurger
General Electric Corp
Counsel Corporate Properties and Services Operations
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2007 Acquisition Criteria
Westrust was founded in 1992 and is entering its 15th year of business. We specialize in the acquisition, development, redevelopment, leasing and property management of neighborhood, community, power and lifestyle shopping centers, mixed-use projects and the redevelopment of Brownfields. Westrust has strong relationships with the hotel industry and typically includes office and residential as mixed-use component to our projects. Westrust has regional offices in San Francisco, Los Angeles and Irvine.
Since its inception, Westrust has acquired or developed 49 properties in 6 different states including Washington, Oregon, California, Arizona, Colorado and Hawaii. Westrust’s investments are valued at over $1.17 Billion and have included 1,241 multi-family residential units, 1,096,015 square feet of office and industrial, and 4,235,301 square feet of retail.
Westrust’s Goal
To purchase $200 million of retail and mixed-use development opportunities focused on Brownfields, redevelopment, and urban in-fill projects.
Westrust’s Investment Focus
Brownfield Opportunities: Western United States
Westrust is seeking opportunities to work with corporations, cities, and property owners to purchase, remediate and redevelop environmentally contaminated properties throughout the Western United States. These properties include commercial, industrial, manufacturing, R & D, or raw land. Joint ventures can also be explored and are a great option for property owners.
Redevelopment Opportunities: California
Westrust looks forward to continue working with California cities to make their visions a reality, by redeveloping properties into unique places their communities can be proud of. Westrust’s expertise in retail, office and multi-family mixed-use projects make it a great developer to effectively bring these projects to life. These opportunities exist in both suburban and urban in-fill markets.
Urban In-fill Mixed-Use: California
Westrust is seeking in-fill locations in urban areas where mixed-use projects are ideal because of the efficiencies they achieve in densely populated areas. Westrust’s strong expertise in developing large scale mixed-use projects has involved retail, office and residential components. Opportunities may come in the form of existing commercial, industrial, manufacturing, R&D properties, Brownfields, or raw land.
Westrust’s Investment Levels
Land: $15 Million - $100 Million
Single Properties: $15 Million - $100 Million
Portfolio Properties: Valued up to $100 Million
Geography
Westrust is interested in Brownfield opportunities throughout the Western United States and development or redevelopment opportunities throughout California with a strong focus on Southern California and the Bay Area.
Financing
Westrust closes all acquisitions for cash and does not require financing contingencies.
Escrow Periods
For investment properties, we need 30 days for feasibility studies and will close within 45 days. Escrows for development and Brownfield projects will vary with property specifics.
Commissions
Westrust does not represent ourselves in acquisitions and always recognizes procuring brokers through the execution of registration agreements. Forward all acquisition submittals to:
Ricardo Capretta
WESTRUST
580 California Street,
Suite 1700
San Francisco, CA 94104
415-489-1700 PH
rcapretta@westrust.com
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