Representative Properties

Lake Forest Village

24251 Muirlands Boulevard
Lake Forest, California

Purchased:

September 2006

Price:

$32,925,000 ($275 per square foot)

Size:

119,741 sq ft

A 119,741 square foot shopping center anchored by Albertson’s and Sav-On Drugs.

Outstanding location within a strong, South Orange County residential area.

Edgewood formulated a property improvement program to upgrade the shopping center and its tenancy.

Edgewood renewed Albertson’s and Sav-On Drugs anchor leases within the first 18 months of ownership, and added significant long-term value..

Status-The property was sold in October of 2008 for $38,456,000. ($321.16 per square foot). The annualized return on equity was approximately 14%.