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SANTA BARARA, CA-Three former CEOs of real estate companies have formed a new investment firm called Granite Peak Partners that is based here with an office in Marina del Rey. The three partners are Pierre Tada, former CEO of Limoneira Co., a $50-million agricultural and land company based in Ventura County; Bruce Savett, former president of IEC Real Estate Corp. in Los Altos; and Greg Yost, former CEO of Del Rey Financial in Los Angeles, who heads the company’s Marina del Rey office.The partners will specialize in structured real estate investments and 1031 Exchanges to individual, agricultural and institutional investors. They describe their new venture as a full service company that offers pools of properties and 1031 tenant in common interests in properties in the $5-million to $20-million range. Their geographic focus is primarily California and surrounding states. Savett, who serves as the primary partner responsible for acquiring investment properties, says the firm is targeting multi-tenant industrial buildings and self-storage units in the sub-institutional-sized (under $20 million) market, particularly in areas where supply is constrained.

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