RAD recognized the severe shortage of modern townhouses in the trend-setting area of Santa Monica north of Wilshire Boulevard. As a result of our close network with listing agents, we were given the opportunity to acquire two residential lots in this target area before they were offered on the open market. At the time, properties often were sold for prices above asking. The listing agents approached RAD because they knew we would be able to act quickly.

RAD’s goal was to develop the property to its highest and best use with contemporary, luxury condominiums appealing to young, affluent residents, while keeping it amenable to its well-established neighborhood.


We overcame zoning and entitlement challenges to obtain approvals for nine residential condominiums, perhaps more units than others anticipated. All of the units have been sold, generating returns well in excess of pro-forma.