October 05, 2021. Buchalter is pleased to announce that it recently provided counsel on a number of high-profile real estate transactions for client Abington Emerson Investments, LLC (“AEI”). The transactions were located throughout Southern California where Buchalter has established a significant presence in the booming real estate market.
Renee Shprecher, a Buchalter Shareholder, represented AEI in the sale of Townsgate Office Center in Westlake Village, California. The multi-tenant property is located in the heart of the community of Westlake Village and is adjacent to the US 101 Ventura Freeway. The sale amount was not disclosed.
In another transaction, AEI secured a construction loan and broke ground on a new Opportunity Zone development located in the North Park area of San Diego. The 48-unit development presents a rare urban infill opportunity in a community that has been gaining widespread recognition as a center for the arts, dining, and entertainment. Construction is estimated to be completed in summer of 2023. Buchalter has been very active in advising a number of clients regarding Opportunity Zone investment opportunities. Nikole Zoumberakis, a member of the Buchalter’s Corporate Practice Group, prepared documents for the Abington Emerson Opportunity Zone Fund that invested in the above North Park development.
“North Park is a vibrant and increasingly popular neighborhood that has a substantial demand for housing. We are thrilled to be able to add both affordable and market rate units to the area,” commented John Camarena, Executive Vice President of Abington Emerson.
Buchalter was also counsel to AEI on a joint venture between Abington Emerson Investments, LLC and R&R Construction Company on a new luxury development project, Ocean Condominiums, in downtown Carlsbad. The 17-unit for sale condominium development is located just outside Carlsbad Village within walking distance to beaches, restaurants, retail shops, nightlife and the Carlsbad Village Coaster/Amtrak station. Construction is estimated to be completed by summer 2023.
Buchalter is a full-service business law firm serving clients for eight decades by providing legal counsel at all stages of their growth and evolution. Our clients are engaged in a diverse global economy governed by complex laws and regulations, and they trust us as advisers and business collaborators. Placing value on each client relationship by recognizing that their success is our success, Buchalter’s overarching goal – getting the best results for the client in a timely manner with sensitivity to cost – has engendered client loyalty, and the Firm has grown from that loyalty.
About Abington Emerson Investments, LLC
Abington Emerson is a privately held investment firm focused on the acquisition, development, and management of real estate. Since its inception in 2008, Abington Emerson has participated in more than 500 real estate acquisitions. In 2019 and 2020, the company launched nine Qualified Opportunity Zone Funds. Abington Emerson currently owns and manages a diverse portfolio of commercial and residential real estate assets located throughout the Western United Sates.