NEWPORT BEACH, Calif., Dec. 9, 2019 /PRNewswire/ -- RevOZ Capital ("RevOZ"), a leading Opportunity Zone real estate investment firm, is pleased to announce a joint venture with Sudweeks Development and Investment Company ("SDIC") to develop an 11,325 square foot pre-leased, build-to-suit medical office building situated on nearly 2-acres in San Bernardino, CA. The building is 100% leased to the County of San Bernardino (S&P Rated AA+) for fifteen years. The single-story facility will house San Bernardino County's Children's Department of Behavioral Health (DBH).
"This is an example of how underserved communities can leverage the Opportunity Zone program to attract investors and provide positive community benefits. While we believe this is a solid long-term investment, it also serves an important role in providing critical services to families in need within the San Bernardino community," said Alex Bhathal, Founder of RevOZ Capital.
SDIC has developed over $50 million of similar projects in Southern California's Inland Empire since 2018. "This is another example of how P3 partnerships can bring mutually beneficial healthcare projects to the local community to serve the public good. We are pleased to be partnering with RevOZ Capital to bring this project to fruition," said Brandon Sudweeks, Managing Member of SDIC.
This news follows the recent opening of RevOZ Capital's first Opportunity Zone investment, a historic hotel located in Redmond, OR. SCP Redmond is now open for business and is one of the first west coast Opportunity Zone projects completed under the new program. Recognized as an industry leader and early adopter, GlobeSt.com awarded RevOZ Capital "Opportunity Zone Investor of the Year" this September 2019.
About RevOZ Capital
RevOZ was established through the partnership of RAJ Capital, a multi-generational family office with deep real estate investment and development expertise, and Cress Capital, an institutionally backed owner and operator of commercial real estate. RevOZ facilitates the revitalization of federally sanctioned opportunity zones by providing co-investment capital to qualified developers of institutional quality projects. Their unique approach is a product of founders' deep experience in urban redevelopment, capital markets and decades of cycle-tested commercial real estate experience.
About Sudweeks Development and Investment Company
SDIC specializes in medical office development and they are actively building and pursuing innovative and quality developments in the healthcare sector.
About San Bernardino County Department of Behavioral Health
The San Bernardino County Department of Behavioral Health (DBH) is responsible for providing mental health and substance use disorder services to county residents who are experiencing major mental illness or substance abuse issues. DBH provides mental health/substance use disorder treatment to all age groups, with a primary emphasis placed on treating children/youth who may be seriously emotionally disturbed, adults who are experiencing a serious and persistent mental illness, and individuals who are experiencing substance use disorders. DBH also provides an array of prevention and early intervention services for both mental health and substance abuse. The San Bernardino County Department of Behavioral Health Programs strive to be recognized as a progressive system of seamless, accessible and effective services that promote prevention, intervention, recovery and resiliency for individuals, families and communities.
1400 Newport Center Drive, Suite 270
Newport Beach, California 92660
For Further Information:
VP, Investor Relations
SOURCE RevOZ Capital