EQUITY RESOURCES

Prior to 1998, CT funded its real estate transactions via individual limited partnerships.  In 1998, the company and its Board decided to organize via a system of committed Funds, whereby the company’s investors committed specific dollar amounts based on specifically outlined development / investment strategies.  Such a system enables CT to act quickly on approved transactions and draw the equity money needed from our investors for each opportunity within two weeks’ time.  As long as a given transaction falls within the Fund’s predetermined strategy, CT does not have to go to the market to raise equity deal-by-deal.

Some transactions have required that more equity be invested than a Fund allows. In such cases, CT has sourced the additional equity from its pool of private investors, which then form a limited partnership with the subject CT California Fund, or CT has partnered with outside equity sources such as Cargill Financial Services or Stoneridge Capital.

CT also has formed Self-Storage Funds dedicated to that particular niche of its business.  For more information on the Self-Storage Funds, please contact Lance Watkins.

		CT CALIFORNIA FUND I, LLC Established in 1998, the original sum committed by the investors was $10 million. The pre-approved strategy was to acquire industrial, office, retail, mixed use and multi-family properties, as well as single family, value-added, income-producing properties and a material amount of entitlement, development and redevelopment opportunities both directly and in conjunction with experienced developers. All $10 million was eventually drawn, spread over 26 properties. All sales of purchased assets have now occurred and the original Fund is now closed. Total transaction value enabled by the Fund equity was $200 million.
		CT CALIFORNIA FUND II, LLC Established in 2000, the original sum committed by the investors was approximately $10 million. The pre-approved strategy was to acquire industrial, office, retail, mixed use and multi-family properties, as well as single family, value-added, income-producing properties and a material amount of entitlement, development and redevelopment opportunities both directly and in conjunction with experienced developers. To date, 94% of the equity has been drawn, spread over 30 properties. The Fund is still operating today as some of the assets remain in CT’s portfolio. Total transaction value enabled by the Fund equity to-date is $185 million.
		CT CALIFORNIA FUND III, LLC Established in 2002, the original sum committed by the investors was $30 million. The pre-approved strategy was to acquire industrial, office, retail, mixed use and multi-family properties, as well as single family, value-added, income-producing properties and a material amount of entitlement, development and redevelopment opportunities both directly and in conjunction with experienced developers. To date, 90% of the equity has been drawn, spread over 27 properties. The Fund is still operating today as some of the assets remain in CT’s portfolio. Total transaction value enabled by the Fund equity to-date is $220 million.
		CT CALIFORNIA FUND IV, LLC Established in 2003, the original sum committed by the investors was $35 million. The pre-approved strategy was to acquire industrial, office, retail, mixed use and multi-family properties, as well as single family, value-added, income-producing properties and a material amount of entitlement, development and redevelopment opportunities both directly and in conjunction with experienced developers. To date, 87% of the equity has been drawn, spread over 12 properties. The Fund is still operating today as some of the assets remain in CT’s portfolio. Total transaction value enabled by the Fund equity to-date is $120 million.
		CT CALIFORNIA FUND V, LLC Established in 2005, the original sum committed by the investors was $54 million. The pre-approved strategy was to acquire industrial, office, retail, mixed use and multi-family properties, as well as single family, value-added, income-producing properties and a material amount of entitlement, development and redevelopment opportunities both directly and in conjunction with experienced developers. To date, 94% of the equity has been drawn, spread over 13 properties. Total transaction value enabled by the Fund equity to-date is nearly $176 million.
		CT California Fund VI, LLC Established in 2007, the original sum committed by the investors was $31 million. The pre-approved strategy was to acquire industrial, office, retail, mixed use and multi-family properties, value added, income-producing properties and a material amount of entitlement, development and redevelopment opportunities both directly and in conjunction with experienced developers. Debt instruments secured by real property could also be acquired through debt restructuring or potential conversion of the existing debt to real estate ownership. To date, 42% of the equity has been drawn for the purchase of 2 properties and a loan portfolio. Total transaction value enabled by the Fund equity to-date is approximately $56 million.