Wednesday, October 28, 2020
BusinessBy Press Release

Revoz Capital Breaks Ground On San Bernardino Opportunity Zone Project

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Facility to provide care for underserved and at-risk youth in San Bernardino County

January 28, 2020 – RevOZ Capital (RevOZ), a leading real estate investment firm specializing in Opportunity Zones, has broken ground on an 11,325 square-foot, build-to-suit office project in San Bernardino. Previously a residential one-story triplex, the single-story facility will house San Bernardino County’s Children’s Department of Behavioral Health (DBH), providing mental wellness care to some of the most vulnerable and underserved members of the community. Construction is scheduled to complete by December 2020.

Located at 755 E Gilbert St, RevOZ acquired the site from a private individual in December 2019. The medical office building is pre-leased to the County of San Bernardino for fifteen years and will be used to promote effective outreach and provide services to at-risk youth in the area.

“As a dedicated Opportunity Zone investor, RevOZ Capital’s goal is to provide a healthy return for its investors while engaging in meaningful impact by investing in underserved areas throughout the country,” said Alex Bhathal, founder of RevOZ Capital. “Given this is a public-private-partnership (P3), it is a prime example of how underserved communities can leverage the Opportunity Zone program to attract investment while providing critical services for the community.”

The facility’s location allows for synergy between the County’s collective community resources, with a strong concentration of other related public institutions in the immediate area including San Bernardino County Office, San Bernardino Department of Health, San Bernardino County Public Defender, San Bernardino County Juvenile Court and several schools.

To bring the project to fruition, RevOZ is partnering with Sudweeks Construction, which has a strong history of developing Federally Qualified Health Centers (FQHC) and collaborating with California municipalities to develop effective and cost-efficient solutions for communities. Additional project partners include Pings Architecture and KWC Engineers.

“This is another example of how P3 partnerships can bring mutually beneficial healthcare projects to the local community to serve the public good,” said Brandon Sudweeks, managing member of SDIC. “We are pleased to be partnering with RevOZ Capital to bring this project to fruition.”

This news follows the recent opening of RevOZ Capital’s first Opportunity Zone investment, a historic hotel in Redmond, Oregon, in partnership with Alpha Wave Investors. SCP Hotel Redmond is one of the first west coast Opportunity Zone projects completed under the program, and was recently nominated by the City of Redmond for the Oregon Heritage Excellence Award.

 

About RevOZ Capital

RevOZ Capital facilitates the revitalization of federally sanctioned Opportunity Zones by providing co-investment capital to qualified developers of institutional quality projects. The company was established through the partnership of RAJ Capital, a multi-generational family office with deep real estate investment and development expertise, and Cress Capital, an institutionally backed owner and operator of commercial real estate. RevOZ’s unique approach is a product of the founders’ deep experience in urban redevelopment, capital markets and decades of cycle-tested commercial real estate experience. For more information, visit RevOZCapital.com.

About Sudweeks Development and Investment Company

Sudweeks Development and Investment Company (SDIC) specializes in medical office development, actively building and pursuing innovative and quality developments in the healthcare sector. Learn more at sdic.us.

About San Bernardino County Department of Behavioral Health
The San Bernardino County Department of Behavioral Health (DBH) is responsible for providing mental health and substance use disorder services to county residents who are experiencing major mental illness or substance abuse issues. DBH provides mental health/substance use disorder treatment to all age groups, with a primary emphasis placed on treating children/youth who may be seriously emotionally disturbed, adults who are experiencing a serious and persistent mental illness, and individuals who are experiencing substance use disorders. DBH also provides an array of prevention and early intervention services for both mental health and substance abuse. The San Bernardino County Department of Behavioral Health Programs strive to be recognized as a progressive system of seamless, accessible and effective services that promote prevention, intervention, recovery and resiliency for individuals, families and communities. http://wp.sbcounty.gov/dbh/.

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Inland Empire Business Journal
The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.