In 2008, California Landmark formed Keystone Strategic Partners (KSP), an in-house investment and acquisition company focused on identifying and acquiring underutilized or distressed assets.

Leveraging the development, construction, finance, and asset management experience of California Landmark, KSP is able to identify and extract value from real estate assets that others have missed or have otherwise been unable to realize.

KSP�s primary focus is to invest as a principal or joint venture partner where there is an opportunity to restructure or redevelop functionally and financially underutilized assets.

Functional Underutilization

• "Land bank� where significant arbitrage exists between cashflow potential of current use and future residual land value
• Value-add multifamily residential and other property types with redevelopment potential
• �Broken� residential development projects requiring repositioning

Financial Underutilization

• Distressed and discounted loan sales and purchases
• Loan workouts and asset recoveries (preferred equity)
• Short sales of properties, receiverships, and bankruptcies
• Purchase and sale of foreclosed properties

Investment Criteria

• Target � Functionally and financially underutilized real estate assets.
• Asset Types � Multifamily (both Apartment and Condo) and Industrial, Office, and Retail properties with redevelopment potential
• Geography � Western US
• Target Deal Size � $3 million to $50 million
• Deal Type � Fee Purchase or Note/Tranche Purchase

KSP seeks to place approximately $100MM of equity and acquire $200-300MM of assets, primarily within Southern California.