ALTO Real Estate Funds Sells the Gateway Market Place Shopping Center in Chula Vista, California

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ALTO Fund II is pleased to announce the sale of the Chula Vista redevelopment project, a 128,700 SF property outside of San Diego, CA. A redevelopment of a vacant Target store, the property is now 98% occupied with two adjacent grocery stores and other national credit tenants.

The asset was acquired by the Fund in June 2014 (ALTO’s share being 66%). In accordance with ALTO’s value-add strategy, the property was divided and redeveloped into four junior anchor spaces, with two multi-tenant outparcel buildings added. Renovations were completed, and tenants began paying rent, during Q3/4 of 2016. The asset was sold at a price of roughly $42 million, and at a cap rate of 5.45%.

The sale of the property will result in a deal level IRR of 25% achieved over the three-year holding period.

In addition, ALTO Fund II sold the following assets:

Rockhill, part of a national 24 property portfolio deal, is a 275,000 SF property located in South Carolina, near Charlotte. The property has been leased to two companies since 2013 – Terex USA, currently occupying 42% of the space, and BedGear, occupying 58% of the space, with a recently signed five-year lease extension, and is planning to move their headquarters to this location.

The property was sold for $6,675,000, at a cap rate of 8.6% on 2017 Net Operating Income.

ALTO also sold a free-standing McDonald’s, part of the Olmos Creek property in San Antonio, at a price of $1,335,000, and at a cap rate of 4.5%.

About ALTO Real Estate Funds

ALTO Real Estate Funds is a series of closed-end investment funds specializing in value-add commercial real estate across the US. Established in 2010, ALTO is managed from New York City with regional offices in Dallas and Tel Aviv. ALTO’s investments provide a stabilizing component to portfolios, combining low risk profiles with a value-add approach, to target an attractive annual yield and stable cash flow. The management team works closely with a network of experienced industry contacts to identify solid investment opportunities. ALTO consistently demonstrates a strong and solid track record and consequently maintains a loyal investor base. To date, ALTO has invested in 55 properties, with a value of approximately $1 billion and representing approximately 11 million square feet. For further information, please visit, or follow and connect with us on LinkedIn, Facebook and Twitter.

Nothing contained here is, or should be relied upon as, a promise or representation as to the future performance of ALTO Real Estate Funds. In considering any prior performance information contained herein, prospective investors should bear in mind that an investment in a fund entails a high degree of risk and that prior performance is not necessarily indicative of future results. There can be no assurance that a fund or the investments by a fund, as the context requires, will achieve comparable results or that projected returns, if any, will be met.

More news and information about ALTO Real Estate Funds

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Business Wire: 14:00 GMT Monday 17th July 2017

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