On October 4, 2024, a partnership between Argosy Real Estate Partners (“Argosy”) and Shopoff Realty Investments (“Shopoff”) exited its investment in the Tuscany Valley and Tuscany Crest Portfolio, comprising a total of 335 entitled residential lots in Lake Elsinore, CA (Inland Empire).

Argosy had previously partnered with Shopoff to acquire the two properties through a recapitalization of a Shopoff-controlled ownership entity. Lake Elsinore is located along Interstate 15 in Southern California in the southwest Inland Empire market.

In Q4 2023, the partnership engaged ProvinceWest to market the assets for sale, which resulted in multiple offers from public homebuilders. The partnership awarded the asset to one of the top 10 largest public homebuilders in the US.

Shopoff is an experienced land development and entitlement expert in the Inland Empire and wider Southern California markets.

For more information regarding this investment, please contact Will McGinley at wmcginley@argosyrep.com.