HP Investors Spins Off NorCal Affiliate to Focus on LA, San Diego Markets

Solana Beach-based real estate investment firm HP Investors (HPI) completed a corporate restructuring which includes the separation from its Northern California affiliate, HP Investors North, to focus on the Los Angeles and San Diego markets. The NorCal portfolio will now be under the control of Lakeside Group, a new venture launched by general partner Isaac Abid and headquartered in Oakland.

HPI was founded in 2010 by longtime real estate investment professionals Sumeet and Harki Parekh to focus on the acquisition, asset management and property management of value-add real estate opportunities in Southern California. HPI has grown its real estate portfolio to approximately $1 billion in assets under management. In 2014, HPI entered into a joint venture with Abid to form HP Investors North, a separate, wholly owned entity to pursue similar opportunities in the Bay Area.

“Isaac has done a great job helping grow HP Investors over the years and remains committed in his investment thesis in Oakland,” said Sumeet Parekh. “Isaac was our first employee and HPI North allowed him to spread his wings and grow both professionally and personally, which is evident by the growing leadership role he has taken in his community.  This created an opportunity for both of us to part ways amicably and for each of us to pursue our own respective interests.”

HPI will remain an investor but will divest its interests in the NorCal portfolio over time.