The post Unveiling the Pear Tree Mural appeared first on CIRE Equity.
]]>It’s now a completed work of art that was done by award-winning artist Anthony Ortega. Ortega, a Reno-based tattoo artist and well-accomplished muralist, started doing graffiti around the age of 13, and like many street artists, he began his journey by artistically using spray paint. His unique interpretation inspired by fruit crate labels of the 1920s was his initial inspiration for the mural.
CIRE Equity sponsors this project, as we are the owner and manager of Pear Tree Center. The project made sense since the team at CIRE is very passionate about integrating public art into our properties whenever possible, as it creates a sense of place within the community. We deeply value community engagement and, over the years, have been an active member of the Greater Ukiah Business and Tourism Alliance and an ongoing sponsor of numerous community events, including Sundays in the Park, PumpkinFest, and Ukiah on Ice.
CIRE has been regularly involved in supporting Ukiah and Mendocino County’s thriving arts community. In 2020, we partnered with local artist Lauren Sinnott to replicate her Ukiah Valley Conference Center mural depicting the history of Ukiah on light pole banners throughout the center, and in 2021, we supported the Deep Valley Arts Collective in their endeavor to launch Medium Gallery. CIRE plans to continue supporting public art initiatives not only in Ukiah, but throughout our entire portfolio.
Having had several of collaborative partnerships with the city over the years and specifically inspired by the Fifty in Five Campaign, which is an informal initiative of the Community Services Department that plans to put up 50 works of art throughout the community in the next five years. We plan to continue being part of that initiative since our team formed a committee to identify the best locations to integrate public art in Ukiah and across many of our other properties.
After the initial site walk, the decision was obvious — the Lucky Supermarket wall was the best place for the mural to reside. Its vast size, 3,175 square feet, facing Perkins, also the gateway to downtown Ukiah, offers maximum visibility, immediately establishing a sense of place and an opportunity to highlight the area and growing shopping center.
It was also very advantageous that the management at Lucky was excited and in agreement with the vision and only requested that the creative tie-in to their business be an interpretation of Ukiah’s history and its roots in agriculture, specifically the pear orchards. It evolved towards using a fruit crate label of the 1920s as an artistic theme.
After reaching out to multiple artists and reviewing numerous submissions, the Pear Tree Center’s team decided on Ortega based on his design concept – a mural featuring a woman with a pear in hand against a backdrop of valley and mountains – which perfectly aligned with the creative parameters and goals established by the team. With the Lucky Supermarket wall as his canvas, Ortega uses the bricks, the vents, and the light fixtures as a grid system to line up the painting. His original digital design was created on his iPad, and he projected the image onto the wall to bring his vision to life!
Visit the Ukiah Daily Journal to learn more about Pear Tree Center, the artistic Ukiah community, and Ortega’s vision for this beautiful mural.
Property Type: Retail
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]]>The post 2023 Mendocino County Arts Champion in Business Category appeared first on CIRE Equity.
]]>The Arts Council of Mendocino County, through its annual Arts Champion Awards, acknowledges individuals, artists, educators, schools, and businesses that have demonstrated exceptional dedication to fostering the arts within the community. This year, Pear Tree Center and CIRE Equity were nominated and ultimately selected as the Business Arts Champion, a testament to our influence on the local arts landscape.
Among their notable projects in the community, Pear Tree Center/CIRE Equity collaborated with muralist Anthony Ortega to create the stunning Lucky Supermarket Mural at Pear Tree Center in Ukiah, CA. This masterpiece not only adds visual appeal but also narrates the rich history of Ukiah through its captivating imagery. Additionally, another collaborative effort extended to partnering with local artist Lauren Sinnott to replicate the Ukiah Valley Conference Center mural on light pole banners throughout the center. We also supported the Deep Valley Arts Collective to open Medium Gallery further underscores CIRE’s commitment to fostering artistic initiatives within the great Ukiah community.
CIRE has been regularly involved in supporting Ukiah/Mendocino County’s thriving arts community. In 2020, we partnered with local artist Lauren Sinnott to replicate her Ukiah Valley Conference Center mural depicting the history of Ukiah on light pole banners throughout the center, and in 2021, we supported the Deep Valley Arts Collective in their endeavor to launch Medium Gallery
As Pear Tree Center and CIRE Equity bask in the glory of being named the 2023 Mendocino County Arts Champion in the Business category, we hope our journey stands as an inspiration for businesses to actively contribute to the arts and cultural vitality of their local communities. This recognition is not just an accolade but a celebration of the profound impact that strategic partnerships, support for local artists, and contributions to nonprofit organizations can have on the artistic landscape, contributing to a flourishing cultural tapestry and the greater community.
Please visit the Arts Council of Mendocino to learn more.
Property Type: Retail
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]]>The post Park West Frosty Fest appeared first on CIRE Equity.
]]>In December 2023, we held the first-ever Frosty Fest at Park West in Peoria, AZ, marking a spectacular beginning to the holiday season, leaving a trail of joy and memories for over 8,000+ visitors at our Park West Shopping Center. More than just a festive event, it was a testament to the power of community collaboration. Join us as we take you through the enchanting highlights of this magical celebration, all made possible by our team, local businesses, non-profits, and generous sponsors.
Against the backdrop of Park West, our team, in collaboration with local businesses, non-profits, and sponsors, transformed the space into a fabulous winter wonderland. Real snow, reindeer rides, train rides, lively performances, and engaging games for the kids set the stage for an unforgettable experience. Families from all corners of the Valley gathered to share in the festive spirit, creating a sense of unity and warmth.
One of the standout moments was the presence of Puppy Luv Animal Rescue, who brought not only joy but also the opportunity for a forever home to four adorable puppies. The collaboration with Puppy Luv Animal Rescue added an extra layer of heartwarming moments to Frosty Fest, proving that community events can make a real impact on both humans and furry friends alike.
Park West isn’t just a shopping destination; it’s a thriving community hub on the west side of the Valley. The success of Frosty Fest highlights the importance of fostering community connections beyond retail spaces. A special shoutout goes to Funergy, whose generous sponsorship made this magical event possible, emphasizing the role of local businesses in creating vibrant and memorable community experiences.
And as the lights dim on the inaugural Frosty Fest at Park West, we extend our heartfelt thanks to each and every one of the 8,000+ visitors who joined us in this celebration of community and holiday cheer. The event not only marked the beginning of the festive season but also showcased the spirit of togetherness and collaboration that defines Park West. Stay tuned for more community-driven events or visit Park West’s website as we continue to make memories, build connections, and spread joy in the heart of the Valley. Thank you for being a part of this magical journey with us!
Property Type: Retail
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]]>The post Park West Boo Bash 2023 appeared first on CIRE Equity.
]]>In October 2023, the grounds of Park West in Peoria, AZ, came alive with laughter, spooky surprises, and a sense of community during our 4th annual Boo Bash event. Hosted by CIRE and the team at Park West, Boo Bash has become a beloved tradition, offering families a chance to revel in the Halloween spirit, explore the Park West Shopping Center, and create cherished memories. Join us as we recap the highlights of this spooktacular evening that brought together over 14,200 attendees for a night of fun, games, and community building. Some of this year’s highlights include:
The night kicked off with the infectious rhythm of Boom percussion, inviting attendees to showcase their dance moves and get into the spooky groove. The beats echoed through Park West, setting the tone for an evening filled with energy and excitement.
Boo Bash 2023 offered a plethora of thrilling games that engaged attendees of all ages. From classic carnival games to Halloween-themed challenges, participants had the chance to win fantastic prizes, adding an extra layer of excitement to the event.
Sweet treats awaited at the trunk or treat table, satisfying the collective sweet tooth of attendees. The carefully curated goodies added a delicious touch to the Halloween festivities, creating smiles and moments of delight for both kids and adults.
The evening was adorned with spine-tingling surprises, mesmerizing magic, and appearances from beloved spooky characters. From unexpected encounters to enchanting performances, Boo Bash 2023 brought the magic of Halloween to life, leaving attendees captivated by the festivities.
With over 14,200 attendees, Boo Bash 2023 marked our most successful year yet. The event has evolved into a cherished tradition, fostering a sense of community at Park West beyond just a shopping destination and driving substantial foot traffic to support local businesses. The overwhelming turnout is a testament to the event’s popularity and the community’s enthusiasm for this annual celebration.
A heartfelt shoutout goes to the dedicated CIRE team, including Kelly, Briana, Katie, Valarie, Carolyn, and Natasha, whose hard work and thoughtfulness contributed to making Boo Bash a standout success year after year. Special thanks are also extended to Arrowhead Honda for their generous support, emphasizing the importance of community partnerships in making such events possible.
And as the curtain falls on Boo Bash 2023, we once again want to extend our sincere thanks to the 14,200+ attendees who made this Halloween celebration unforgettable. Boo Bash continues to be a beacon of community spirit, and we look forward to many more years of spooktacular memories at Park West. Our team is already buzzing with excitement for the next Boo Bash, where we’ll once again aim to create an atmosphere of laughter, joy, and shared experiences. Until then, thank you for making Boo Bash 2023 a howling success!
Property Type: Retail
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]]>The post Corporate Responsibility appeared first on CIRE Equity.
]]>In the ever-evolving landscape of corporate responsibility, CIRE stands at the forefront, championing a holistic approach towards sustainability, diversity, equity, and philanthropy. Our commitment to environmental sustainability, DEI initiatives, and philanthropy defines our corporate ethos, reflecting a conscientious effort to create positive change in the world. Join us as we delve into the key strides we’ve made in 2022-2023, and the ongoing journey toward a more sustainable and socially responsible future.
CIRE’s dedication to environmental sustainability goes beyond rhetoric, evidenced by our strategic programs aimed at minimizing the ecological footprint of our buildings. Collaboration with property management and tenants has been pivotal in implementing in-office sustainability practices, considering environmental impacts in investment decisions, and fostering tenant partnerships that prioritize sustainability.
We believe these efforts underscore our commitment to sustainable, durable, and efficient practices.
CIRE believes that diversity, equity, inclusion, and belonging are not just ideals but cornerstones for success. Our modern leadership approach values inclusivity, creating an entrepreneurial culture that thrives on diverse perspectives. The I.D.E.A.S. team spearheads initiatives ensuring a workplace where differences are celebrated, opening opportunities for underrepresented groups in the finance and real estate sectors.
Our corporate-wide focus includes initiatives such as:
While we provide great benefits, growth, and learning opportunities, we believe one significant driver of our culture is being true to our core values, which promotes a transparent, caring, and engaged culture where psychological safety is engrained in our operations and where everyone has a voice and feels like they are heard, which cultivates a “win together” mindset.
CIRE’s managerial practices, emphasizing transparency, safety, and community, setting us apart in the following ways:
Beyond our corporate walls, CIRE actively contributes to community well-being. We give back to our local communities through organizing, participating, and donating to several local and nationwide organizations. These corporate-level charitable initiatives focus on supporting community-based causes; some examples include clothing donation boxes, raising money to support restaurants and front-line workers during and post-pandemic recovery, and much more.
Recent philanthropic endeavors include:
Our commitment to philanthropy remains unwavering, with plans for more impactful initiatives in 2024.
As we reflect on the strides made over the last couple of years, CIRE stands as a beacon of sustainable and responsible corporate citizenship. Our journey is ongoing, fueled by the belief that positive change requires constant commitment. From environmental sustainability to fostering diversity and making meaningful contributions to our communities, CIRE remains steadfast in its pursuit of a better, more sustainable future for all. We welcome you to us on this journey, as we continue to innovate and lead the way toward a brighter tomorrow.
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]]>The post The Power of Vertical Integration appeared first on CIRE Equity.
]]>Over the course of economic cycles and the passing of time, the real estate sector has consistently stood out as a favored asset class for institutional investors, high-net-worth individuals (HNWIs), and family offices. Within this landscape, private equity real estate has emerged as a preferred avenue for those seeking enduring wealth generation and preservation through long-term investment strategies.
The integration of asset management within a private equity firm offers a seamless and cohesive approach to overseeing, optimizing, and adding value to property portfolios. Having this critical function in-house allows for real-time decision-making, enhanced risk management, and a holistic view of the investment landscape. Investors benefit from a nimble and responsive asset management strategy that aligns with their financial goals and market dynamics.
The power of vertical integration also extends to property management, streamlining operations by consolidating this vital aspect within the same firm. This cohesion facilitates clear communication channels, efficient problem-solving, transparent customer service, and a unified vision for property performance. Investors experience enhanced control over property operations, higher tenant satisfaction, and ultimately, increased property value.
The marriage of property and fund accounting within a single entity fosters accuracy, transparency, and efficiency in financial management. This allows the company to directly monitor financial health and make informed decisions promptly pertaining to their assets while giving investors access to consolidated financial reports through quarterly reporting. This integrated approach minimizes the risk of miscommunication between departments and ensures a synchronized financial strategy across the entire investment portfolio.
Vertical integration brings construction management into the fold, offering a strategic advantage when it comes to property development and renovation. Having construction expertise in-house enables precise control over timelines, budgets, and quality standards. The company and investors all benefit from a streamlined process, reduced project risks, and the ability to adapt to market demands promptly.
One of the key advantages of vertical integration is the seamless communication and collaboration among different departments all under one roof. With all aspects of the investment process housed under one roof, teams can work cohesively, share insights, mitigate risk, and respond rapidly to market shifts. This integrated approach fosters a more nimble and adaptable investment strategy.
By consolidating essential functions, vertical integration often leads to cost efficiencies. Eliminating the need for outsourcing various services reduces overhead costs, and streamlined operations contribute to improved overall financial performance. Vertical integration can also lead to economies of scale, resulting in reduced costs as output increases. Ultimately, these cost efficiencies across various states of the real estate investment process translate into improved profitability resulting in increased returns for investors.
In the realm of commercial real estate private equity, the power of vertical integration cannot be overstated. Bringing asset management, property managers, property and fund accounting, and construction management under one roof not only streamlines operations but also provides investors with a comprehensive and strategic approach to their investments. The benefits of enhanced communication, cost efficiencies, and increased returns underscore the transformative impact of vertical integration in shaping success in the dynamic world of commercial real estate.
All these benefits uniquely position the company to make more deals and develop deeper expertise in the market – leading to a better understanding of real estate nuances and ultimately enhancing the value of investments over time. As investors navigate the complexities of the market and evaluate the various real estate investment opportunities available, embracing a firm with an integrated model becomes a key differentiator when choosing to invest and achieving lasting success.
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]]>The post The Smart Investor’s Guide to Private REITs appeared first on CIRE Equity.
]]>In the ever-evolving landscape of investment opportunities, Private Real Estate Investment Trusts (REITs) have emerged as a strategic and compelling option for savvy investors. Offering a unique blend of smart diversification, capital appreciation, tax advantages, and income generation, private REITs provide a solid foundation for wealth accumulation. In this blog post, we delve into the key reasons why discerning investors should consider including private REITs in their portfolios, exploring the unparalleled benefits that set them apart in the investment realm. Let’s dive into our top 6 reasons to invest in a REIT:
Private REITs open the door to a world of diversified real estate assets, encompassing residential, commercial, and industrial properties. Diversification, the cornerstone of savvy investing, spreads risk across different sectors, reduces portfolio volatility, and has the potential to enhance overall returns. Investing in a private REIT allows individuals to participate in the growth of various real estate markets, mitigating the impact of a downturn in any specific sector.
The long-term wealth accumulation potential of private REITs is a compelling reason for investors seeking higher returns. Through strategic acquisitions, property development projects, and the inherent appreciation of real estate assets over time, private REITs contribute to the compounding of wealth. This unique feature sets the stage for sustained portfolio growth, aligning with the objectives of investors with a focus on capital appreciation.
Private REITs offer investors a valuable edge with tax-deferred income. The income generated by the REIT is shielded from immediate taxation, providing investors with a tax-advantaged income stream. This not only minimizes the current tax burden but also contributes to an enhanced overall return on investment. The tax advantages associated with private REITs make them a strategic choice for tax-conscious investors looking to optimize their investment outcomes.
A key benefit of investing in private REITs is the consistent generation of income. Rental payments from diverse real estate holdings and profits from property sales contribute to durable passive cashflow distributions. This reliable income stream empowers investors to maintain purchasing power and serves as a robust hedge against the erosive effects of inflation. The increasing rental collections further position private REITs as an attractive avenue for income generation.
Unlike publicly-traded REITs, private REITs are shielded from the day-to-day market volatility that often plagues public markets. The non-public nature of these investments ensures that share values are not directly influenced by stock market fluctuations or daily market sentiment. This stability contributes to attractive long-term risk-adjusted returns, making private REITs a resilient option for investors seeking lower market volatility.
Beyond the immediate benefits, private REITs offer advantages in estate planning. Investors can potentially benefit from estate tax advantages, minimizing the tax impact on their estate. This strategic advantage facilitates the tax-efficient transfer of wealth to future generations, aligning with long-term financial planning objectives.
But wait, there’s more… Here are a few more additional be additional benefits to further highlight the advantages of investing in private REITs:
Private REITs often enlist experienced real estate professionals to manage their portfolios. This level of expertise, often through a vertical integration model, ensures that investment decisions are guided by industry knowledge, market insights, and a strategic understanding of real estate dynamics. Investors benefit from the peace of mind that comes with entrusting their funds to a team of seasoned professionals dedicated to optimizing returns.
Private REITs often align their interests with those of their investors. The structure of private REITs typically involves management fees and performance-based compensation, creating a scenario where the success of the REIT is directly tied to the success of its investors. Beyond that, it is not uncommon for the founding principles, managing partners, and executive team to be personally invested in the REIT or individual assets alongside their investors. This alignment ensures that the REIT’s management is proactive and motivated to make decisions that enhance investor value.
Private REITs, with their focus on active management, can actively respond to changes in market conditions. This adaptability allows for the implementation of risk mitigation strategies, whether through strategic adjustments in the portfolio mix or proactive responses to emerging challenges, enhancing the overall resilience of the investment strategy.
Private REITs typically have longer investment horizons compared to their public counterparts. This extended time frame allows for patient and strategic decision-making, aligning investments with long-term trends and opportunities. Investors can benefit from a more deliberate approach to asset selection, development, and divestment, contributing to sustained portfolio growth.
Private REITs often gain access to unique and exclusive investment opportunities that may not be readily available to individual investors. This can include off-market deals, exclusive development projects, and specialized real estate sectors that may not be easily accessible through traditional investment avenues.
Given their non-public nature, private REITs are less susceptible to the speculative pressures often associated with publicly traded securities. This reduction in market speculation can contribute to more stable and rational pricing of real estate assets within the portfolio, allowing for a more predictable investment environment.
Some private REITs offer opportunities for investors to participate in specific projects through co-investment or partnership structures. If offered, this collaborative approach allows investors to engage more directly with particular assets, fostering a sense of involvement and alignment of interests between the REIT and its investors.
In the realm of wealth-building and strategic investing, private REITs stand as a beacon of stability, offering a smart blend of diversification, capital appreciation, tax advantages, income generation, and lower market volatility. As investors navigate the complexities of the financial landscape, integrating private REITs into their portfolios becomes a strategic move, unlocking unparalleled benefits for sustainable wealth accumulation and a resilient investment future.
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]]>The post DEI & I.D.E.A.S. Team appeared first on CIRE Equity.
]]>We believe that building a diverse and inclusive culture is key to creating a boundless and innovative culture and community that is essential to our continued success. We want our employees to be successful and are dedicated to enhancing employee well-being and the communities around them.
And through our I.D.E.A.S. team, we strive to provide an inclusive environment where differences are valued, embraced, and celebrated so that everyone can reach their full potential.
While we provide great benefits, growth, and learning opportunities, we believe one significant driver of our culture is being true to our core values, which promotes a transparent, caring, and engaged culture where psychological safety is engrained in our operations and where everyone has a voice and feels like they are heard, which cultivates a “win together” mindset.
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]]>The post Supporting Maui: Extending Aloha in Times of Need appeared first on CIRE Equity.
]]>Our commitment to the spirit of aloha compels us to extend our support to those impacted by these distressing events. We understand the urgency of providing immediate relief during these challenging times and are dedicated to being part of the solution.
To start, we’ve identified crucial organizations that are on the ground, working tirelessly to aid the affected communities. These organizations, dedicated to the welfare and rebuilding of Maui, hold a special place in our mission to bring back hope and resilience.
Additional vetted resources can be found at HAPA: Hawaii Alliance for Progressive Action.
If you want to support individuals directly, a list of individual needs is located here, along with their stories.
Your support can be instrumental in turning the tide for these communities. By joining hands with us, you’re not just contributing to relief efforts; you’re helping Maui rebuild and reclaim its strength.
Maui holds a special place in the hearts of the CIRE family. It’s not merely a place where we’ve invested in property but a cherished haven where many of us have grown up, connected with family and friends, and forged lasting memories.
Your support is pivotal in helping these communities rebuild, and it forms the bedrock of CIRE’s unwavering dedication. We’re committed to keeping you informed about our ongoing efforts, future initiatives, and fundraising activities aimed at aiding the people of Maui.
We invite you to extend the spirit of aloha by sharing this message with your network. Together, we can amplify our impact and create a wave of support that will be felt far beyond the shores of Maui.
Thank you for being a part of this vital journey of rebuilding and restoration. Your compassion and support mean the world to us and to those whose lives have been affected.
With heartfelt gratitude,
The CIRE Equity Team
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