A meticulous makeover is underway in Larchmont Village. Tucked away in a high-end Central L.A. neighborhood, the area's w...
We are offering interests in C-4 Investors LLC, a feeder investment vehicle established to invest in Christina Real Estate Investors 4 ("Christina 4"), in order to provide investors access to a premium real estate offering.
This offering provides investors a limited opportunity to participate in Christina 4 with a $25,000 minimum investment (reduced from $100,000 as an introduction to real estate investing).
Christina 4 is a private equity real estate company that has been formed to achieve superior long-term tax advantaged and risk adjusted returns by acquiring, investing in, operating, improving, optimizing, developing, and redeveloping, a diversified portfolio of multi-family residential, office, and commercial/retail properties (“Investments”) in the prime sub-markets of the Westside region of Los Angeles, California.
Christina 4 targets undervalued real estate investment opportunities that become available due to special events in the Westside region of Los Angeles.
Christina 4 currently owns 7 Investments. The Investments include:
Christina Development Corporation (“Christina”) is a real estate sponsor and manager, founded in 1977, and headquartered in Malibu, CA. Christina owns the process – from acquisition, to development, to management, and beyond – ensuring their investors benefit from:
- Streamlined operational processes that increase efficiency
- Reduced third party management risk
- A dedicated team with truly aligned interests
For more than 40 years, Christina has sponsored direct real estate investments in the Westside region of Los Angeles (Beverly Hills, Brentwood, Century City, Malibu, Santa Monica, Westwood, West Hollywood and Venice/Silicon Beach), executing a proprietary and proven strategy focused on tax-advantaged wealth preservation and long-term capital appreciation.
Our niche geographic focus defines us. We have spent over four decades studying our marketplace and commit to investing in proven markets where demand consistently outweighs supply (Beverly Hills, Brentwood, Century City, Malibu, Santa Monica, Westwood, West Hollywood, and Venice/Silicon Beach).
Demand Outweighs Supply
- The Westside region of Los Angeles is fully developed with virtually zero vacant land.
- Lack of new supply accelerates absorption rates and drives upward pressure on rental rates, propelling consistent rent growth.
- Temperate year-round climate, robust employment opportunities, and cutting-edge technological innovation underscore the desirability of the region and catalyze the positive migration trends.
We buy from sellers who need to sell
• Our deal sourcing network consists of over four decades of relationships with property owners, trustees, attorneys, accountants, and brokers.
• If an investment property is widely marketed, absent a compelling reason to sell, it’s not for us.
• Event driven / distressed dispositions generate unique opportunities to acquire properties below comparable market values
Low Correlation Asset Class
- Real estate has a low correlation to stocks and bonds.
- COVID-19 has created a dislocation between the private market trades and public market valuation, which has provided Christina with significant buying opportunities.
- Real estate’s positive correlation to inflation mitigates potential inflationary risk in a historically low interest rate environment. Leases tied to CPI will keep lease rates in line with inflation.
Christina underwrites multiple paths to monetization in order to maximize the value of their investment properties and mitigate downside risk.
Christina is product agnostic. Core competencies span numerous asset classes, including multi-family residential, office, retail and mixed-use. This strategy allows Christina to capitalize on opportunistic trends and diversify within our portfolio holdings.
Christina targets investment properties that are below the pricing threshold of institutional investors and above the pricing threshold of individual investors. Christina targets investments with upside potential as characterized by one or more of the following:
Redevelopment: Properties that need to be repositioned in order to perform at optimal levels. Such opportunities include properties in need of physical upgrades, or where there is a higher and better use, such as future development, additional entitlements and/or change of use and utilization. The management team’s expertise in and focus on value added projects will allow Christina 4 to quickly analyze and secure opportunities and to successfully manage the value creation process.
Under-Managed Properties: Properties in which the former ownership’s lack of focus or expertise has resulted in under-performance and for which application of highly skilled, focused, and experienced management will provide operational improvement and increased net operating income.
Capital and Physical Constraints: Undercapitalized properties in which the increasingly inferior physical quality of the property or an inability to finance necessary capital improvements has limited the property’s operational results and market value. The Company intends to identify and implement meaningful and cost-effective strategies to reposition and redevelop physically constrained and undercapitalized properties.
Enhanced Returns through Multiple Exits: Christina 4 seeks to acquire properties that provide multiple exit options for achieving maximum returns while minimizing downside risk.
Acquisition: Christina 4 acquired these four multi-family investments, totaling 61 units and over 46,000 square feet of land, from the family of the original owner/developer, with whom Christina had a long-standing relationship. This is the first time that these buildings have been available for purchase since their original development in 1963.
Location: The Hayworths are located in the West Third Street Shopping District, one of the most walkable dining and shopping areas in Los Angeles. They are within walking distance of CBS’s Television City which is slated to receive $1.25B in renovation within the next 4 years and the soon-to-be-finished Purple Line Metro Extension, which will provide high-capacity and swift travel between Downtown Los Angeles, Beverly Hills, Miracle Mile and Westwood, creating a seamless live-work-play environment for all neighboring communities.
Value Bought: Prior to closing, the Hayworths had not benefited from professional management and were underperforming in relation to their true investment potential. As units are vacated, residences will be renovated and re-leased at current market rental rates. We plan to enhance the apartment communities through renovation of the common areas, including landscape improvements. We are also in the process of obtaining entitlements to develop for-sale residences.
Acquisition: Christina 4 is in a joint venture partnership with Silver Creek Commercial Development (the U.S. affiliate of Europe’s Aerium Group) to co-develop Larrabee, which is fully entitled for 22 luxury residences. Jointly designed by renowned architectural firms Gruen Associates and Marmol Radziner, Larrabee’s striking design and unrivaled location makes it one of the preeminent for-sale projects in the City of West Hollywood.
Location: Larrabee sits on a double lot in the heart of West Hollywood, with 360-degree views of the world-famous Sunset Strip, just across the street from the soon-to-be-built, Morphosis-designed, ultra-luxury hotel. For-sale residential housing north of Sunset Boulevard is highly sought after and consistently commands some of the highest purchase prices in the world.
Value-Bought: Larrabee represents a unique opportunity to combine great architecture with exceptional location to deliver high-quality residences to a market that is desperate for premium product. The demand for these thoughtfully curated residences is demonstrably strong and we expect that to be reflected in the accelerated rate in which the residences are sold upon delivery to market.
Acquisition: The acquisition of Pacific represents an extremely rare opportunity to own a coveted beachfront property in one of the most desirable residential submarkets in Los Angeles - Playa del Rey / Silicon Beach. Christina was able to acquire Pacific - a prime, 12,420 square foot, corner lot, multi-family residential apartment building in the heart of Silicon Beach - from the family of the original owner/developer thanks to our long-standing relationship with the Seller’s broker.
Location: Pacific is in the heart of Playa del Rey, Silicon Beach and is the only property in its neighborhood that extends from street-to-sand, allowing for ocean views from nearly every unit. Silicon Beach is a burgeoning tech hub with a winning combination of high demand, limited supply, incredibly strong demographics and superb year-round weather.
Value-Bought: The project is currently underperforming in relation to its true investment potential due to absentee management. With the help of Christina’s expert in-house property management team and proven multi-faceted business plan, Christina began adding value at the moment of acquisition. Furthermore, it is our expert opinion that the land value alone of Pacific is far greater than our purchase price, which positions Pacific perfectly amongst our portfolio of value-bought investments.
Acquisition - This corner retail building was acquired from the family of the original owner/developer, whose trustee has a long-standing relationship with Christina. The property was purchased at a significant Covid discount, and we were able to secure Seller financing which further strengthens the economics of the transaction.
Location – 8400 is located in the bustling West Third Street Shopping District, directly across the street from the 100-room Orlando Hotel. The building is within walking distance of CBS’s Television City and the soon-to-be-finished Purple Line Metro Extension, which will provide swift travel between Downtown Los Angeles, Beverly Hills, Miracle Mile and Westwood, creating a seamless live-work-play environment for all neighboring communities.
Value Bought – 8400 is currently under-performing and has significant upside potential. For the first time since development in 1938, the building is free of lease encumbrances, which not only enhances the property value, but also allows us to accelerate our business plan’s timeline. Christina is currently exploring the potential to redevelop into for-sale housing, taking advantage of the significant density and height incentives awarded to transit-oriented community projects.
Christina focuses on investing in the Westside region of Los Angeles, California, one of the most dynamic real estate investment markets in the world, and a region where Christina has carved out a niche as a major investor. Christina’s depth of market knowledge has resulted in a powerful investment model that the firm has executed time and time again, evidenced by the superior, risk-adjusted returns that Christina has continually achieved.
The Westside region of Los Angeles has a winning combination of limited supply, proven demand, strong demographics, world-recognition and the best year-round weather, which reduces downside risk.
The Westside Region of Los Angeles
Los Angeles is the third largest real estate market in the world with an estimated value of $482 billion. It is also the only United States metropolitan area besides New York that produces an annual gross domestic product above $1 trillion.
The Westside region of Los Angeles features some the most valuable real estate in the world. The cities of Beverly Hills, Culver City, Malibu, Santa Monica, and West Hollywood are all on the Westside, as are many of Los Angeles’ best known communities including Bel Air, Brentwood, Century City, Hollywood, Marina Del Rey, the Miracle Mile, Pacific Palisades, Playa Vista, Venice, and Westwood.
Known for its creative workforce and affluent customer base, the Westside is a favorite among professional services, new media firms, and all aspects of the entertainment and hospitality industries.
The Westside continues to attract more new talent from around the world to fulfill positions in a broad range of creative fields including entertainment, technology, design, fashion, publishing, education, tourism, health, and science. The energy and creativity generated here are found in products and services enjoyed around the world.
With a population of nearly 1 million residents and a workforce of more than 500,000, the Westside is a major force in the Southern California economy. The area supports over 52 million square feet of rentable office space. Three major studios (Fox, Paramount, and Sony) are located here along with headquarters for Occidental Petroleum, KB Homes, Hilton Hotels, Univision, and City National Bank. “Silicon Beach” has emerged as a new hub of digital media and high-tech advancements and several technology superpowers have significant presence on the Westside (Facebook, Apple, Google, Netflix, etc.), while the real buzz is around innovation startups (i.e. TikTok) and the influx of capital that is helping these early-stage businesses multiply and grow.
Deal underwriting in the Westside region of Los Angeles is being driven largely by the scarcity of available product and the increasingly favorable economic and job growth trends. As a result, multifamily residential product, office product, and retail product all continue to outperform their comparable peer sets on a national level, including vacancy factors well below the national average, and some of the top performing rental figures in the world.
Christina real estate offerings are designed to maximize the value of investment properties in order to preserve and grow wealth in a tax efficient manner.
The investment structure affords investors the ability to offset passive income from one investment property against passive losses from another investment property in the portfolio. The Christina investment structure also maximizes the potential to distribute operating cash flow, as well as proceeds from the refinancing or disposition of investment properties, generally on a tax deferred basis.
Combined with long-term capital gain treatment, Christina real estate offerings are designed to put more after-tax dollars in the pockets of its investors.
Investors should consult with their own tax advisors.
OBJECTIVE / STRATEGY
Christina 4's objective is to achieve superior, long-term, tax-advantaged and risk-adjusted returns by acquiring and investing in underperforming or undervalued multi-family residential, office, and commercial / retail properties.
TARGETED COMMITMENT SIZE
C-4 Investors LLC is targeting commitments of $10 Million and will invest in Christina Real Estate Investors 4 which is targeting a total of $50 Million of investment.
The Managing Member and / or its affiliates will contribute to Christina 4 no less than 5% of the aggregate investment (the “Managing Member Commitment”)
The company life of Christina 4 is thirty years from the date of the Final Closing (the “Term”).
Westside region of Los Angeles (i.e. Beverly Hills, Brentwood, Century City, Malibu, Santa Monica, Westwood, West Hollywood and Venice/Silicon Beach)
INVESTMENT ADVISORY FEE
2% per annum (0.75% paid by C-4 and 1.25% paid by Christina 4)
SELF DIRECTED IRA
The Company accepts investments through self-directed IRA accounts via Alto IRA.
Christina’s other private equity companies and projects have a historical net to investors IRR of 20.4% and a historical equity multiple of 2.4x. The tables below represent Christina’s track-record. Our past performance provides no assurance of our future performance.
LAWRENCE N. TAYLOR - FOUNDER & CHIEF EXECUTIVE OFFICER
Mr. Taylor is the founder and Chief Executive Officer of Christina. Mr. Taylor is responsible for vision, strategy and leadership. Mr. Taylor is a seasoned investor with over 40 years of real estate experience in the Westside region of Los Angeles. Mr. Taylor’s notable projects include the introduction of high-rise residential development in North Century City, the development of the Montana Avenue Shopping District in Santa Monica, revitalization of the South Beverly Hills Retail Shopping District and re-development of Westwood Village. Mr. Taylor started his career with Ernst & Young (formerly Kenneth Leventhal & Company). Mr. Taylor received his Bachelor of Science degree from the University of Southern California in 1975.
VINCENT R. CHAN - CHIEF FINANCIAL OFFICER
Mr. Chan is the Chief Financial Officer of Christina. Mr. Chan is responsible for establishing financial and operational policy, and working closely with the Christina management team to execute strategies and business plans. Prior to joining Christina, Mr. Chan held senior financial positions at various publicly traded and privately held real estate investment vehicles including American Homes 4 Rent (NYSE: AMH), Public Storage Canadian Properties (TSX: PUB), PS Business Parks, Inc. (NYSE: PSB) and American Commercial Equities, LLC. Mr. Chan started his career in public accounting with Ernst & Young. Mr. Chan received his Bachelor of Science degree in Business Administration with an emphasis in Accounting from the California State University of Northridge in 1994.
LEIGHA WALLACE - DIRECTOR OF INVESTOR RELATIONS
Ms. Wallace is the Director of Investor Relations at Christina, focused on managing and growing the Christina Real Estate Investors business. Prior to joining Christina, Ms. Wallace worked with ICONIQ Capital, Iron Point Partners, Regions Private Wealth Management, Private Bank at J.P.Morgan and the Private Wealth Management group at Goldman Sachs. Ms. Wallace’s expertise includes over 15 years of experience in the investment management industry, specializing in private equity and alternative investments, with a focus on advising UHNW entrepreneurs, family offices and executives. Ms. Wallace received her B.A. in Political Science from California State University, San Francisco.
DAVID A. WHITEHEAD - MANAGING DIRECTOR
Mr. Whitehead is a Managing Director of Christina. Mr. Whitehead oversees all property operations. Mr. Whitehead is a seasoned project manager, asset manager and operator with over 30 years of real estate experience in the Westside region of Los Angeles. Mr. Whitehead started his career with Christina in 1988. Mr. Whitehead received his Bachelor of Science degree from the University of Oregon in 1987.
ADAM ROSENKRANZ - DIRECTOR OF ASSET MANAGEMENT
Mr. Rosenkranz is the Director of Asset Management at Christina. Mr. Rosenkranz is responsible for the development and implementation of asset level business plans and the optimization of portfolio performance. Prior to joining Christina, Mr. Rosenkranz worked for Wells Fargo Private Bank’s Real Estate Asset Management Group, where he managed a diverse portfolio of multi-family, mixed use and commercial properties valued at over $500M. Mr. Rosenkranz graduated with distinction from California State University, Sonoma where he earned a Business Administration degree with a concentration in Finance.
LIZA KILLIAN - DIRECTOR OF MARKETING
Ms. Killian is the Head of Brand Marketing at Christina, responsible for overseeing the company’s branding & growth efforts, as well as all sales and lease Marketing for the company’s investment portfolios. Prior to joining Christina, Ms. Killian worked in the Marketing Group at CAA, at McCann Erickson and at Dailey Advertising, where she developed a suite of strategic Marketing skills. Ms. Killian received her Bachelor’s degree from USC’s Marshall School of Business with an emphasis on Entrepreneurship.
JIM REYNARD- DIRECTOR OF CONSTRUCTION
Mr. Reynard is responsible for all construction-related pre-development and development activities. He works directly with the Design Consultants, General Contractor, Field Operations and Municipal agencies to ensure costing and all owner commitments are being fulfilled. With over 30 years of experience building over 3,000 units, Mr. Reynard brings to the table a wide-ranging professional career in construction and development – from multi-family podium and mixed use commercial product to large master planned residential communities, he has consistently delivered projects on schedule and within budget. His previous tenure at Western National Group, serving such clients as Irvine Company, Lewis Operating Corp., along with his leadership at Centex Homes and Micropolitan, brings a unique understanding of both sides of the general contractor and owner equation, as well as, a 360-degree view of our projects.
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