Magazine article Variety

Real Estate Provides Investment Bedrock

Magazine article Variety

Real Estate Provides Investment Bedrock

Article excerpt

In 40 years, Bill Tanner and Peter Mainstain have seen a lot of changes in the real estate market. Prices skyrocketed in the '70s - particularly in Southern California - and continued to rise over the decades. While there have been cycles of boom and bust, real estate's long-term upward trajectory has been more than healthy enough to make it the cornerstone of the firm's investment strategy.

"We haven't missed a year of investing in real estate, not only in Los Angeles, but throughout the United States," says Tanner. "With specific general partners that Peter and I invest with first, we test the market, how they report and all the variables, and, once it comes back to us that they're successful in their endeavor with us, we bring in our clients to invest as well. We're limited partners in everything we do, meaning we have no liability."

At first, they focused on apartments and storage facilities, then branched out into small shopping centers that would generally include a supermarket, a liquor store, and several other small businesses such as nail salons.

"The typical shopping center we invested in was 100,000 to 150,000 square feet," says Mainstain. "That sounds like a lot, but it's a lot different than your typical Westfield mall. …

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