Actively Managed
Diversified Portfolio

Address: 1120, 1130 & 1140 West Warner Road, Tempe, AZ

Investment Strategy: Value-Add
Market: Tempe
Asset Type: Flex Industrial
Size: 202,027 SF
Year Acquired: 3Q23

Description: Three single-story, freestanding institutional quality buildings totaling 202,027 SF of flex/R&D/manufacturing space in the South Tempe submarket. 100% leased to three high-quality, credit tenants providing stable cash flows. Acquisition price well below today’s replacement cost in supply-constrained market with little competing product. Value-add opportunity to reposition property from office to R&D use. Excess parking ratio allows for reposition to flex industrial and opportunity to develop additional 70,000 SF building.

Address: 2840 De La Vina Street, Santa Barbara, CA

Investment Strategy: Core-Plus
Market: Santa Barbara
Asset Type: Retail
Size: 29,900 SF
Year Acquired: 4Q22

Description: Grocery-anchored retail shopping center in Santa Barbara, CA. Located in the upper State Street corridor, the Property is surrounded by some of the strongest local and national retailers and restaurants. The Property is anchored by Grocery Outlet, a publicly traded discount grocer, which occupies over 75% of the Property’s leasable area on a triple net lease. Given the supply constrained market with high barriers to entry, Granite Peak believes the Property contains tremendous intrinsic value and will generate significant future appreciation through the eventual sale of the Property as a high-density residential/retail mixed-use redevelopment project.

Address: 4310-4350 East Cotton Center Blvd, Phoenix, AZ

Investment Strategy: Core/Core-Plus
Market: Phoenix
Asset Type: Flex Office
Size: 265,000 SF
Year Acquired: 4Q21

Description: Quattro is a 100% leased, 4-building, 265,000 square foot flex office property in central Phoenix’s prestigious Cotton Center. The property’s tenant roster features blue-chip billion-dollar tenants, which is enhanced by an attractive lease expiration schedule that provides for additional long-term value-add opportunities while minimizing downside risk. The Phoenix property further provides downside protection as a conversion to warehouse industrial space provided by the single-story, concrete tilt-up construction featuring 25’-28’ ceiling heights.

Address: 10450 Spring Green Drive, Englewood, CO

Investment Strategy: Core
Market: Denver
Asset Type: Multifamily Residential
Size: 96 Units
Year Acquired: 2Q17

Description: Amberley at Inverness is a 96-unit property located next door to Hilton Inverness Golf Club in the prestigious master planned community of Inverness in the Englewood, Denver submarket. Built to condo-quality with large floor plans, Amberley appeals to a growing renter cohort of active adults who are downsizing out of single-family home and into apartment communities that fit their active lifestyle and life stage.

Address: 14351 Hindry Ave., Hawthorne, CA

Investment Strategy: Core/Core-Plus
Market: West Los Angeles
Asset Type: Retail
Size: 40,500 SF
Year Acquired: 1Q20

Description: Bed Bath & Beyond is located within the Hawthorne Gateway Shopping Center, the dominant regional center anchored by a very high-volume Costco. The demographics of the coastal, West Los Angeles market includes the affluent communities of Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo and feature vibrant employment opportunities, as well as strong population and income growth. In addition, the property features excellent drive-by traffic due to location on the Rosecrans corridor which runs from the San Diego (405) Freeway to the beach communities of Manhattan Beach and El Segundo.

Address: 14401 Hindry Ave., Hawthorne, CA

Investment Strategy: Core
Market: West Los Angeles
Asset Type: Retail
Size: 24,000 SF
Year Acquired: 1Q20

Description: Cost Plus is located within the Hawthorne Gateway Shopping Center, the dominant regional center anchored by a very high-volume Costco. The demographics of the coastal, West Los Angeles market includes the affluent communities of Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo and feature vibrant employment opportunities, as well as strong population and income growth. In addition, the property features excellent drive-by traffic due to location on the Rosecrans corridor which runs from the San Diego (405) Freeway to the beach communities of Manhattan Beach and El Segundo.

Investment Strategy: Value-Add
Market: Seattle
Asset Type: Multifamily Residential
Size: 60 Units
Year Acquired: 1Q14
Description: Westside Flats South is a 60-unit property ideally located in the urban enclave neighborhood of West Seattle, 9 miles south of Downtown Seattle. West Seattle is known for its beachfront atmosphere, lifestyle amenities, convenient access to strong employment hubs and attracts renters migrating outside of the urban core into close-in but less expensive submarkets. Built in 1999, the unit interiors and common areas were original and required upgrading. Granite Peak executed a full unit, exterior and common area renovation and the property was repositioned to target a new demographic of renter to increase rental revenue and NOI. Following the renovations, re-tenanting and stabilization of the asset as part of the initial value-add strategy, the property now operates as a stable core investment.

Address: 3236 SW Avalon Way, Seattle, WA

Investment Strategy: Value-Add
Market: Seattle
Asset Type: Multifamily Residential
Size: 26 Units
Year Acquired: 1Q15

Description: Westside Flats North is a 26-unit property ideally located in the urban enclave neighborhood of West Seattle, 9 miles south of Downtown Seattle. Built in 1991, the unit interiors and common areas were original and required upgrading. Granite Peak executed a full unit, exterior and common area renovation and the property was repositioned to target a new demographic of renter to increase rental revenue and NOI. Following the renovations, re-tenanting and stabilization of the asset as part of the initial value-add strategy, the property now operates as a stable core investment.

Address: 10870 W 53rd Ave, Arvada, CO 80002

Investment Strategy: Core
Market: Denver
Asset Type: Multifamily Residential
Size: 40 Units
Year Acquired: 3Q14

Description: Skyline Ridge is a 40-unit property located in the Arvada submarket of Denver.

Address: 11222 and 11244 Greenwood Ave. N, Seattle, WA

Investment Strategy: Value-Add
Market: Seattle
Asset Type: Multifamily Residential
Size: 54 Units
Year Acquired: 2Q18

Description: NorthLink on Greenwood is a 54-unit property located in the growing North Greenwood submarket, eight miles north of Downtown Seattle. Built in two phases, the property contains two, three-story buildings with an average unit size of 735 square feet. The demographics of the North Greenwood market include the consistent influx of in-state and out-of-state talent migrating outside of the urban core into close-in submarkets, attractive employment opportunities, and strong population and income growth. Built in 1986/1999, the unit interiors and common areas were original and required upgrading. Granite Peak renovated and repositioned the property to target a new demographic of renter to increase rental revenue and NOI.

Address: 1741 East Warners Rd., Tempe, AZ

Investment Strategy: Core
Market: Tempe
Asset Type: Retail STNL
Building Size: 2,720 SF
Year Acquired: 4Q20

Description: In late 2020, Granite Peak acquired the Starbucks in Tempe, Arizona. The high-income demographic of Tempe is characterized by growing employment, population, and incomes provide a vibrant submarket for consumer services such as Starbucks, with potential for further appreciation in rents and property values. Additionally, the investment provides a higher return than the typically low-4% returns on other similar investment properties in similar locations, while the property’s Arizona location provides the investor further diversification away from a concentration of investments in California.

Address: 4555 North Tower Rd., Denver, CO

Investment Strategy: Core
Market: Denver
Asset Type: Retail STNL
Building Size: 4,419 SF
Year Acquired: 4Q20

Description: Granite Peak acquired Jiffy Lube in Denver, Colorado in late 2020. The property is leased to a nationally known tenant on a 20-year net lease at below-market rents, providing for longer-term investment stability and future value creation. The Green Valley neighborhood of North Denver features strong employment growth and growing population and incomes. The Jiffy Lube investment provides a higher return than the typically low-4% returns on other similar investment properties in similar locations, while the property’s Colorado location provides the investor additional diversity away from a concentration of investments in California.