What we have done

Since formation Pac Starr and its affiliates activities include:

• Purchase of the 503 room Hyatt Regency Hotel, 25,000 square feet of retail and a 635 unit parking structure in Sacramento, California. Creatively structured the acquisition. Materially improved occupancy, ADR and RevPAR and bottom line results. Also closed two refinancings of the original acquisition loan, each successively at substantially higher loan amount and lower, fixed borrowing rates.
• Purchase of Promontory Business Park, a multi-building office and industrial business park in the Carlsbad area of San Diego, California. Closed a refinancing of the original acquisition loan and raised additional capital from the new loan. Repositioned and significantly upgraded the property and its tenancy and cash flow. Successfully converted this six building park to planned industrial development (PID) for six individual, office/R&D, fee simple buildings suitable for owner/users or small investors.
• Purchase of Mira Mesa Business Park, an office and industrial business park in the Sorrento Mesa area of San Diego, California. Repositioned the property to maximize cash flow by upgrading improvements and tenancy. Closed two refinancings of the original acquisition loan, raising additional capital from the new loans.
• Purchase of Parkway Business Centre, a multi-use office and industrial building in the Poway area of San Diego, California. Closed two refinancings of the original loan. Repositioned to include both an owner-user exit strategy as well as a leased investment strategy.
• Purchase of Parkway Centre One, a light manufacturing / R&D building in the Poway area of San Diego, California. Improved and restructured the leasing and tenant credit support.
• Purchase of Gateway Tower, an 11-story high rise office building on 3.5 acres of land, located along the 210 Freeway corridor in Pasadena California, immediately adjacent to a light rail station and two freeway on/off ramps.
• Closed acquisitions to date have totaled close to 500,000 square feet and over 500 hotel rooms.
• Closed approximately $220,000,000 in non-recourse fixed and floating debt capital from various institutional lenders.
• Accomplished over 400,000 square feet in new and improved leasing in the existing San Diego portfolio.
• Oversaw the installation and negotiation of approximately $5,200,000 in improvements.
• Harvested substantial gains by disciplined and timely dispositions.