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San Diego, CA

San Diego Rescue Mission

We were proactive and provided the Mission with the time needed to identify and purchase a new site and maximize the value of their existing properties.

Posted In — Success Stories |

Project Outline

With the Padres Ballpark relocation to downtown, the San Diego Rescue Mission would need to replace their Men’s, Women’s and Transitional Housing, (each of these locations was in the path of progress).

As the Mission had limited capital, they needed to identify a new location(s), and structure timing such that they could shift their present equity to a new site

Approach

  • The Kidder Mathews team sold, on contingencies, the holdings in East Village, and acquired one property that serves the same population previously served at three different locations
  • Negotiated a complex ground lease with purchase option for the improvements that corresponded to the sale transactions on the existing sites
  • Negotiated the Conditional Use Permit at the new location with the City and neighbors

Results

  • Rescue Mission controlled their destiny by planning relocation before eminent domain actions
  • This proactivity provided the Mission with the time needed to identify and purchase a new site and maximize the value of their existing properties

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