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StarPoint Properties Acquires Property at East 7th Street & North Locust Avenue

Thursday, 11 March 2021 06:16 AM

BEVERLY HILLS, CA / ACCESSWIRE / March 10, 2021 / StarPoint Properties, a real estate investment and operating company founded in 1995, has purchased a 22,500 square foot property located at 636 North Locust Avenue in downtown Long Beach, California, for the purpose of developing a 7-story, 108-unit mixed-use project.

Located in a Qualified Opportunity Zone and one block from a light rail station, this underutilized commercial property was ready to evolve in order to better serve the community. StarPoint Properties aims to transform an obsolete tire shop into contemporary dwelling units, resident amenities, and public-facing retail.

Seeking to contribute to the revitalization of the downtown community while creating a world-class residential living space, the project includes a mix of 1 to 3-bedroom residential units. The ground floor features double-height retail space as well as resident amenities, including a fitness center, business lounge, and community areas. The 3rd level podium deck provides a pool, outdoor BBQs, and seating areas, while the roof deck offers stunning ocean views.

"We are excited to begin development later this year on this beautiful mixed-use commercial and residential building in the heart of Long Beach, about a mile from the ocean and accessible to the energy and atmosphere that make living in Long Beach such an enjoyable experience," said StarPoint Properties Founder & CEO, Paul Daneshrad.

ABOUT STARPOINT PROPERTIES

StarPoint Properties is a real estate investment and operating company with a 25-year track record of delivering exceptional market returns to its investors by focusing on the acquisition, development, and redevelopment of under-valued multifamily and commercial properties. The primary goal of the firm is to deliver asymmetrical risk-adjusted returns and to outperform most other alternative investment vehicles. StarPoint Properties is located at 433 N. Camden Drive, Suite 1000 in Beverly Hills, CA 90210. For more information, call 310.247.0550, visit www.starpointproperties.com or email [email protected].

SOURCE: StarPoint Properties

Topic:
Company Update
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