The Enclave
SoldStrategy: Value-Add
Submarket: Carpinteria, CA
Square footage: 11.200mq
Acquisition: Q2-15
Sale: Q2-20
Located in Santa Barbara County, Carpinteria , this campus of three oceanfront office buildings is now the headquarters of an NYSE-listed tech company, and the local headquarters of a German automotive company. Fully leased just six months after the acquisition, the project repaid all the invested capital already in Q3-17, thanks to a refinancing by Bank of America.