Residential Properties

Through its joint venture with Pacific Real Estate Partners, Sterling Real Estate Holdings, Barker Pacific Group invests in value add multifamily residential communities throughout its western and southwestern U.S. markets.

Geographically centered on western and southwestern markets with significant regional growth characteristics, with a particular focus on key markets in Arizona, Nevada, and Texas, Sterling seeks value-add Class B and Class C assets, with the ability to pursue Class A opportunities selectively. The team generally focuses on lightly marketed and off-market deal opportunities, seeking to add value and improve properties with undercapitalized or overleveraged owners, fractured ownership situations, or under-managed or mismanaged assets

After an acquisition, adding value requires a proactive approach to each portfolio asset, and BPG commits heavy focus to day-to-day asset management, financial engineering, property re-branding and physical re-positioning, as well as sophisticated reporting to optimize decision-making.

Chestnut Park - San Antonio, TX

Chestnut Park
San Antonio, Texas
Website: www.liveatchestnutpark.com

Chestnut Park, a 145 unit property in Phoenix, was acquired by the partnership in March 2016. Updates to the leasing office, clubhouse, model and common areas have enhanced the asset's overall environment for tenants and visitors, as well as adding value for investors.

Cielo - Phoenix, AZ

Cielo
Phoenix, Arizona
Website: www.mayalindaapartments.com

After the acquisition of Maya Linda Apartments, a complex comprised of 336 units in Phoenix, the team rebranded the property "Cielo" as an homage to the beautiful Arizona sky. Ownership soon initiated improvements to the leasing office, clubhouse, model, and common areas. Upon sale, this property should provide a substantial return to investors.

Sterling on 28th - Phoenix, AZ

Sterling on 28th
Phoenix, Arizona
Website: www.sterlingon28th.com

A 224 unit property, the Brentwood Apartments were purchased in June 2015, and soon rebranded as Sterling on 28th.

Ownership arranged a 70% LTV bridge financing at closing, along with a strategic private investor capitalization structure that took advantage of the below market entry point and under market rents.

The Ownership then repositioned the asset and updated the leasing office, clubhouse, model and common area amenities.

Rebranded, refurbished, and revitalized, Sterling on 28th was sold in 2016 for a very attractive return to investors.

Colorado Commons at Old Town - Monrovia, CA

Colorado Commons at Old Town
Monrovia, California

Located on two acres within Monrovia’s historic Old Town district, the well-crafted condominium community features 68 attached homes with a selection of 10 floorplans, including flats and multi-level townhomes, many designed with stylish mezzanines. Colorado Commons at Old Town brings an affordable solution to potential residents who crave the charm of Pasadena, but not the cost.

Colorado Commons was developed by Barker Pacific Group, Inc. (BPG) as a public-private venture with the City of Monrovia Redevelopment Agency. The ground-up project consists of 68 residential units and 4 commercial units and was completed in the spring of 2008.

Due to the weak for-sale housing market at delivery, BPG created a rental strategy and successfully leased-up the project to 90% by December of 2008. The entire lease-up was only eight months. A key part of the rental strategy was a rent-to-own program that applies a portion of a tenant's rent toward the future purchase of the unit. BPG has put in place all of the Department of Real Estate documents necessary to sell the units as condos when the housing market regains its strength.

Starting in 2014, BPG retained Polaris Pacific to sell out the units as condominiums. Ownership completed sale of all units in 2015.

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Residential Properties