Argosy Real Estate Partners Acquires Site for the Development of SolTerra Single Family Build-for-Rent Community in La Quinta, CA
We are pleased to announce that Argosy Real Estate Partners, in partnership with Shopoff Realty Investments, has acquired an approximately 18-acre, fully-entitled site in La Quinta, CA for the ground-up development of SolTerra, a 131-unit small lot single family detached build-for-rent community. La Quinta is one of the primary destination resort cities in the Greater Palm Springs area of Riverside County, which has a population of approximately 2.5 million according to the U.S. Census Bureau.
Upon completion, the project will feature a mix of detached one- and two-story single family rental homes with three- and four-bedrooms. Each home will include a washer / dryer, two-car attached garage, stone countertops, stainless steel appliances, walk-in closets, gated backyards, and smart home technology packages. The project will also have common area amenities including a resort-style pool, fitness center, clubhouse, barbeque area, game lawn, and dog park.
Argosy’s development partner, Shopoff Realty Investments, is a fully-integrated real estate company. Founded in 1992 by Bill Shopoff, Shopoff Realty Investments focuses primarily on the ownership, acquisition, development, and asset management of high-quality residential and mixed-use properties, including the pro-active repositioning of commercial properties as well as the repurposing / entitlement of land assets. SolTerra is Argosy’s third investment in partnership with Shopoff Realty Investments.