Palomar Terrace is located in Carlsbad, California and was purchased in June 2012. The project consists of a recently constructed two story 104,000 square foot office building. At acquisition, the building was less than 10% leased and the remainder of the building was in shell condition. The property was purchased out of bankruptcy/foreclosure from a syndicate of two banks.
Since acquisition, Regent overhauled the facade, landscaping and lobbies of the project. Additionally, Regent aggressively marketed the project and brought the project to 98% occupancy. The project was sold at the end of 2015.