Granite Peak Partners, Inc., new company, formed by Pierre Tada

Granite Peak Partners, Inc., which provides structured real estate investments and 1031 exchanges to qualified individual, agricultural and institutional investors, has opened its headquarters in Santa Barbara. The company was formed by Pierre Y. Tada, former CEO of Santa Paula-based Limoneira Company, and his two partners, Bruce D. Savett and Gregory G. Yost, who have extensive experience in corporate leadership and the purchase, rehabilitation and management of commercial real estate. Granite Peak Partners is a full service company offering pools of properties and 1031 tenant in common interests of properties in the $5 million to $20 million price range, primarily in California and surrounding states. “We believe investors are looking for diversified tax-advantaged real estate investments, especially when 1031 exchanges are involved,” says Tada.Company partners believe real estate is still a solid investment, despite the run-up in prices in recent years. “Home and apartment buildings are near their peak,” says Savett, who is the primary partner responsible for acquiring investment properties. “That’s why we’re currently targeting multi-tenant industrial buildings and self- storage units in the sub-institutional-sized real estate market (under $20 million), particularly in areas where supply is constrained.” Baby boomers, family trusts, small pension plans and foundations with sizable real estate holdings find the investing approach used by Granite Peak Partners particularly attractive, say the partners. “Many investors who have been accumulating real estate for years may realize their real estate holdings are no longer serving their needs, but don’t want to pay the tremendous tax on their gain if they sell,” says Yost, who heads the company’s Marina del Rey office. “By rolling over the gains into a properly structured real estate investment, they take advantage of the 1031 exchange tax benefit and better position their property holdings to improve appreciation and income potential--all without worrying about property management issues.”