Principal, GodfatherWhat the team says:
Steve is a legacy in the business. He is smart, driven, capable and is certainly the person you want on your side.Why listen to him?
Steve Leonard formed Pacifica Holding Company in the early 1980s to take advantage of commercial real estate cycles. Pacifica’s approach has been to assemble portfolios in undervalued markets, initially through acquisition of existing buildings and, as the cycles progressed, development with private and eventually institutional investors.
Following a successful cycle in Los Angeles in the 1980’s, Mr. Leonard and his investors established holdings in Colorado in the 1990’s that eventually constituted the largest private commercial portfolio in the state. By 1998, as market values began to peak, he sold the eight million square foot portfolio and management business for approximately $750 million. Subsequently, Leonard participated in the establishment of a second major Los Angeles portfolio of four million square feet. It was sold by 2004 for a total consideration of approximately $400 million.
In 2011, Pacifica (Pacifica Real Estate I, LLC) partnered with Urban Partners (including Matt Burton – see below) and several institutional equity investors, including the Mack Family, to develop multi-family projects primarily in urban markets in Seattle, Portland and Southern California.
As the Southern California real estate markets began to recover following the Great Recession, Leonard resumed actively investing in commercial real estate projects primarily in the San Diego area, but also in other areas of Southern California including Santa Barbara. Pacifica partnered with SR Commercial Real Estate (including its Co-Founder, Adam Robinson) and focused primarily on the industrial/office/showroom sectors through a series of LLCs (Pacifica Real Estate II, III, IV and V). Initial purchases began in 2012, and that portfolio has grown to include acquisitions of approximately $250 million in a 2 million SF portfolio.
Leonard formed Pacifica Capital Investments, LLC (“PCI”) in 1998. PCI is an SEC registered investment advisory firm which manages over 250 accounts and an investment partnership with combined assets of $350 million.Good things to know:
Steve is known for his hospitality, and he loves inviting guests to his home for amazing parties. Play your cards right, and maybe you’ll get an invite to the next one.