Shopoff Realty Investments announced the successful closing of its Shopoff OC Development Fund, which was fully subscribed for $40 million ahead of schedule. The fund will provide equity for a 26-acre mixed-use neighborhood development as part of the Westminster Mall redevelopment in coastal Orange County.
According to William Shopoff, President and CEO of Shopoff Realty Investments, this early closing highlights the demand for high-quality investment opportunities in today’s volatile market. The fund offered accredited investors a unique chance to be involved in a mall redevelopment project located in an excellent coastal location that also meets state housing requirements.
In 2022, Shopoff acquired two parcels at Westminster Mall – a regional mall featuring former Sears and operating Macy’s stores. In April 2023, they submitted their proposal for a mixed-use redevelopment plan to the city. This move further solidifies their commitment to providing top-notch investment options while contributing positively towards fulfilling state housing needs.
