Chris Coseo (left) president of CPI confers with Jeff Stites, chief operating officer.Coseo Properties, Inc. is a national real estate investment and development company based in San Diego, California. Since 1983 the company has been involved in all aspects of the real estate industry – from commercial, retail, industrial, and residential development to investment in land and foreclosed properties.

Today the company's focus is on the nationwide acquisition of apartments and office and retail opportunities. From 2009 to 2011 CPI led the field in acquiring pools of foreclosed homes from lenders such as Fannie Mae, Freddie Mac, Chase, and others. In most cases these properties were first renovated to comply with local ordinances and building codes, then rented or sold to families, many of whom were first-time home buyers. In the process of purchasing almost 3,000 homes in 45 states, the CPI team learned first hand the specific residential attributes of areas like Detroit, Chicago, Dallas, Phoenix, and other cities in the United States. As a contrarian investor, CPI saw a rebound of the economy and shortage of residential units, both single-family homes and apartments. We also saw a "bottoming out" of the apartment market and the opportunity to acquire apartment units for a fraction of replacement costs. At the same time, we were witnessing ultra-low interest rates and high occupancy in Class A and Class B apartments in fine suburbs of many cities. CPI purchased several apartment complexes and office properties in the past four years and continues to manage most of these  for eventual sale. Four properties were sold in short periods of time at above average returns.

CPI continues on its contrarian course in 2017. With the increasing value of its Southern Michigan acquisitions as well as other key markets, CPI resumed the process of identifying and purchasing financially distressed residential and commercial properties in Michigan and California. CPI believes the Michigan and Southern California markets have hit bottom – with encouraging signs of resurgence. Case in point is our recent acquisition of the Scripps Poway Corporate Center in Poway, California, and nearby Camino San Bernardo Business Center.

CPI owner/developer of San Diego's Pinnacle Building.

With a shortage of housing near some of the country's top universities and colleges, we have also focused on acquiring Class A student housing apartments. These properties generally have 100 percent occupancy rates, excellent credit supported by parental guarantees, and are most often located within walking distance to campus. The apartments are fully furnished, offer private bedrooms with full baths and study areas in each room. See Block 36, one of our recent acquisitions in East Lansing, Michigan.