MDC is proud to announce the successful disposition of 1234 Camino Del Mar, a trophy office property with ocean views located in the heart of Del Mar, California.
At MDC, we focus on identifying exceptional assets and enhancing them through our institutional-quality management practices, and this transaction is a testament to the strength of our strategic investment approach. Originally acquired in 2018 on behalf of private clients, 1234 Camino Del Mar was purchased alongside a neighboring property that were tied together through a 99-year parking lease. Through our active management approach, MDC added value by:
- Successfully renegotiating the 99-year parking lease to clearly separate the two properties; this allowed the ownership group to retain one asset while unlocking additional value by selling the other.
- Delivering stable and secure returns to our private clients with quarterly distributions which exceeded their minimum return expectation.
This transaction marks another milestone in our commitment to delivering exceptional outcomes for our clients, and we sincerely thank the talented brokers who helped make this transaction possible: Matt Moser and the Retail Insite team; and Brooks Campbell of Cushman & Wakefield. The successful completion of this sale will allow MDC to re-deploy capital into our targeted, high-growth markets, ensuring we continue to deliver strong, forward-looking investment opportunities for our clients.
We are always looking for opportunities to partner with clients and investors who share our vision for strategic, value-driven real estate investments within our highly selective target markets. If you’re interested in learning about how MDC can help achieve your real estate goals through a strategic partnership, please don’t hesitate to reach out to Jordan Kohn, MBA or Ravi Mann.
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Director, Client Services | Facility Management Professional
7moCongratulations and it was pleasure working with you all at Novel Office US. All the best on your future success and look forward to working with you again.