Solana Beach-based real estate investment firm HP Investors (HP) recently underwent a corporate restructuring, resulting in the separation of its Northern California affiliate HP Investors North. This move allows HP to concentrate on the Los Angeles and San Diego markets, while Lakeside Group, a new venture led by general partner Isaac Abid and based in Oakland, will take over control of the NorCal portfolio.
Founded in 2010 by experienced real estate professionals Sumeet and Harki Parekh, HPI specializes in acquiring, managing assets and properties with potential for growth within Southern California. With approximately $1 billion worth of assets under management currently held by HPI’s real estate portfolio has grown significantly since its inception. In 2014,HPI joined forces with Abid to form another entity called HP Investors North that focused on similar opportunities within the Bay Area.
According to Sumeet Parekh,”Isaac has played an integral role in our growth at HP Investors over time.” He also added that “his dedication towards his investment strategy is evident through his work not only professionally but also personally as he takes up leadership roles within his community.” As their first employee at HPI,North provided him with opportunities for personal development which ultimately resultedin this amicable split allowing both parties to pursue their individual interests.
While still maintaining an investor status,HPI plans on gradually divesting from its shares withinthe NorCal portfolio going forward.
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