Strategic Capital Partners, Emri Group Invest in San Diego Industrial Project
Acquisition in Poway submarket marks first partnership between the two investment firms
Poway, California, April 17, 2008—Strategic Capital Partners, LLC (SCP) through its fund, Strategic
Partners Value Enhancement Fund I, has acquired a 144,000 square foot, Class A headquarters R&D
building in the Poway submarket of San Diego, through a partnership sponsored by Emri Group (Emri), a Vancouver-based industrial owner and manager.
The seller of the property was ResMed Inc. (NYSE: RMD), who will lease the entire building until June
2009. The purchase price was $25.29 million.
“This acquisition is a perfect example of SCP’s investment strategy, as there is high demand for this type of space and little product becoming available,” said Fred Scott, Vice President of Acquisitions of Strategic Capital Partners. “We are pleased to be partnering with an organization with such a strong reputation and track record as the Emri Group.”
Added Bob Emri, Principal of the Emri Group, “We look forward to working with SCP; this acquisition
provides the partners with a high-quality building, in a strong submarket, at an attractive price. Upon
ResMed vacating the property in 2009, we believe we will be able to re-lease the property in an
improving economy at very competitive rents.”
The Emri Group is a private investment company based in Vancouver, Canada and San Francisco,
California. The firm's principal business is the acquisition, management and development of residential, industrial and commercial real estate.
Strategic Capital Partners, LLC (SCP) is a privately-held, real estate investment management firm that employs a value-added investment strategy of acquiring commercial and multi-family properties via joint ventures with experienced real estate operators. SCP is focused on properties across the United States that can be repositioned, re-leased and/or redeveloped. The company is headquartered in Chicago with offices in Indianapolis and New York. Learn more about SCP at www.StrategicCapitalPartners.net.