Investment Highlights
- Cyclically low real estate prices in U.S. gateway cities after the Global Financial Crisis offered acquisition opportunities below replacement cost.
- Alpine Grove observed a demand shift to media and technology tenants with different space requirements and high aesthetic demands.
- Alpine Grove teamed up with an experienced local developer and established the VPI platform. The venture targeted media and technology tenants in San Francisco and Los Angeles.
- Traditional spaces were converted and transformed into contemporary office and modern campuses. Properties attracted Airbnb, Arup Engineers, Facebook, and Omnicom as tenants.
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