LOS ANGELES, Oct. 23, 2018 /PRNewswire/ -- Optimus Gledhill Partners, LLC, a joint venture between affiliates of Optimus Properties, LLC and Gledhill Capital, LLC have completed the acquisition of a 43 unit apartment complex located at 13007, 10311 & 13035 12th Ave. SW, Burien, WA. The City of Burien is currently going through a revitalization as both residents and businesses alike discover the convenience of its central location to myriad employment centers and public transportation, its small town charm, and its affordability relative to other neighboring submarkets. Downtown Burien has been reinventing itself since 2009 through a variety of municipal projects in Burien's downtown core including widened sidewalks and landscaping along downtown's major arterial streets, a new City Hall, the recent addition of a new regional library, a new town square park, and several new mixed‐use and residential projects including high‐end market rate apartments, for sale condominiums, and senior housing. Further bolstering the area's attractiveness, the recent development and revitalization is occurring within blocks of the Burien Transit Center (providing public transportation to Seattle and nearby employment centers), and downtown's nearby boutique shops, restaurants, gyms, and coffee bars.
Optimus Gledhill Partners, LLC is a partnership between the principals of Optimus Properties, LLC and Roxbury Ventures, LLC and the principal of Gledhill Capital, LLC. Headquartered in Los Angeles, California, Optimus Properties, LLC is a privately held real estate investment company engaged in the acquisition, development, leasing and management of multi‐family, retail and commercial real estate. The company was established by Kamyar Shabani and K. Joseph Shabani and employs a disciplined investment approach focused on value creation and capital preservation. The company's investments are characterized by direct principal involvement and a meaningful contribution of its principals' capital. The company's current portfolio consists of retail, office, medical office and multi‐family properties in California and New Mexico.
Gledhill Capital, LLC is a multifamily owner/operator focused on value‐add opportunities in select markets including Seattle, Portland, Los Angeles, Austin, and San Antonio. The company targets underperforming assets with deep value add characteristics, assets that are selling at or below replacement cost, and assets that offer compelling risk adjusted returns for creating value. Headquartered in Los Angeles, the company was founded in 2017 by Michael DiSimone and seeks to leverage Mr. DiSimone's 15+ years of real estate experience in multifamily acquisitions, brokerage, and asset management.
SOURCE Optimus Properties, LLC