REAL ESTATE

Crossroads Capital Group and Steadfast Cos. form partnership

BY CSA STAFF

Irvine, Calif. — Steadfast Cos. said Wednesday that financial services industry veterans Greg Brakovich and Jamie Shepherdson have joined forces with the company to provide advisory services and to facilitate the strategic expansion of the sales and the distribution effort for the company’s privately placed and publicly registered investment products.

Brakovich and Shepherdson are co-principals of Crossroads Capital Group, LLC, an investment and advisory services firm, which recently purchased a minority equity interest in Steadfast REIT Investments, LLC to assist in the overall positioning and growth of the Steadfast Income REIT, the company’s $1.65 billion public, non-traded real estate investment trust, as well as future alternative investment programs.

Simultaneously, Steadfast Capital Markets Group has expanded its sales team to 12 territories and announced that Phil Meserve has been named as president and CEO of Steadfast Capital Markets Group and that Angela Barbera has been added as senior VP national accounts.

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REAL ESTATE

Paradise Capital Group acquires Paraiso Town Center

BY CSA STAFF

Thousand Oaks, Calif. — Beverly Hills, Calif.-based Cardinal Equities, through its affiliate Paradise Capital Group, said it has acquired from U.S. Bank a 50,000-sq.-ft. retail and office complex in Dos Vientos Ranch, a master-planned community in Thousand Oaks, Calif.

Paraiso Town Center, built in 2008 and foreclosed on by the construction lender in late 2009, includes 40,000 sq. ft. of ground-level retail and restaurant space with outdoor dining, and 10,000 sq. ft. of office space.

The center is currently 20% occupied, and features Boney Mountain Coffee, Red Coral Restaurant, Fitness Together, The Art Box and Paraiso Cleaners.

Paradise Capital has engaged CBRE to head up leasing effort.

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REAL ESTATE

Five Guys Burgers and Fries to open at Westwood Village

BY CSA STAFF

Magnolia, Texas — Jacksonville, Fla.- based Regency Centers said it has leased restaurant space in Magnolia, Texas, at Westwood Village to Five Guys Burgers and Fries.

Five Guys leased 3,127 sq. ft., bringing the center to 97% leased. The restaurant is now open for business.

Westwood Village is a 310,000-sq.-ft. community center anchored by Target, Ross Dress For Less, and T.J. Maxx.

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