Real Estate Business
SCOA has almost 30 years of real estate investment and development experience in the U.S. SCOA, with investments in commercial office buildings, multi-family communities, planned developments and single family homes, maintains a diverse and balanced real estate portfolio.
COMMERCIAL OFFICE BUILDINGS
In 1982, SCOA began its real estate activities in commercial real estate, with the acquisition of 600 Third Avenue in Manhattan (the building was sold in 2004). Throughout the years, the Company has been an active investor in this market, acquiring and selling properties in Hawaii, Los Angeles, Phoenix, Tempe and Miami. SCOA’s current office building investments include 1750 K Street in Washington, acquired in 2008, and 123 Mission Street in San Francisco, acquired in 2005.
MULTI FAMILY COMMUNITIES
SCOA entered the rental apartment market in 1988, when, along with the Company’s development partners, they constructed a 20-story apartment complex in Alexandria, Virginia. SOCA has since invested in apartment projects in Houston, Phoenix, Denver, Dallas, Austin and Atlanta in excess of 3,200 rental units. SCOA recently invested in the development of a four-building, 266 unit apartment complex in Raleigh, North Carolina.
In 1990, SCOA developed its first master-planned community consisting of 700 housing lots, a shopping center and office park northeast of Atlanta known as Medlock Bridge. Starting in 1993, SCOA began the development of a 2,200 home residential community called Hamilton Mill in the metropolitan Atlanta area. Hamilton Mill included a Fred Couples-designed golf course, clubhouse, shopping center, two tennis centers and two swim centers. SCOA is currently working on its third master-planned community. As master developer in partnership with a local real estate company, SCOA has been working on a development, Towne Lake, which is a 2,900 single family home project on 2,400 acres, of which 430 acres are allocated for restaurants, retail shops, three schools, townhomes, apartments, an amphitheater, offices and a town center. The centerpiece in the metro Houston TX area is a 400-acre man-made recreational lake actively used for boating, water skiing, fishing, and swimming. The amenities also include fitness centers; pools; tennis, basketball and volleyball courts; and clubhouses.
SINGLE FAMILY HOMES
SCOA has invested with developers and builders in target markets in the Southeast, South Central and Western United States in the single family home residential market. The Company has developed over 3,000 homes with various partners, and is continuously looking for opportunities to expand this area.