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.