The Benefits of Being a Private Investor

Solomon: “Research shows that California has surpassed France as the sixth-largest economy in the world with an estimated $2-trillion GDP, so we like to invest in California for that and other reasons.”

ORANGE COUNTY, CA—BLT Enterprises doesn’t have partners or investment committees and will close its transactions on an all-cash basis if the deal is right, chief development and legal officer Rob Solomon tells GlobeSt.com. As we recently reported, the Santa Monica, CA-based firm recently acquired a four-building office, flex and industrial portfolio encompassing 170,447 square feet and spanning four Orange County cities from Cordia Capital Management, a private real estate investment firm based in Los Angeles. In addition, BLT has acquired Sorrento Tech II, a $12.6-million office and R&D campus in San Diego’s Sorrento Mesa market, comprising 63,333 square feet from what Real Capital Analytics reports is CWCapital Asset Management. The property was renovated in 2014 and was 87% leased to two large tenants at the time of acquisition, and BLT founder and president Bernard Huberman says it “offers increased value through our ability to lease the final 8,000-square-foot space, as well as utilizing our in-house management team to ensure this property continues to offer high-quality space in a strong submarket.” We spoke exclusively with Solomon and Huberman about the Orange County market in particular and the firm’s strategy for the second half of the year.

GlobeSt.com: What do you find compelling about the Orange County properties you recently purchased?