Altus Equity Group Completes Successful Sale of Carousel Industrial Warehouse in Ukiah, CA

Successful disposition delivers strong returns to investors despite challenging real estate environment

UKIAH, Calif., July 23, 2025 /PRNewswire/ -- Altus Equity Group Inc. is pleased to announce the successful sale of Carousel Industrial Warehouse in Ukiah, California, concluding a highly successful investment and delivering exceptional returns for investors. The transaction closed as planned in June, marking a strong exit in a challenging real estate market environment.

Originally acquired in late 2016 at a price well below replacement cost, Carousel was held for more than eight years. The original strategy prioritized stable income with long-term upside through lease restructuring. In 2020, when the anchor tenant terminated its lease, Altus seized the opportunity to re-lease a portion of the vacated space at higher rental rates—boosting revenue while maintaining flexibility for a future sale.

Preliminary exit calculations indicate the investment achieved an internal rate of return (IRR) of approximately 23.5% over the hold period—a particularly strong result given current market conditions and the length of the holding period.

"The timing of this sale couldn't have been better," said Forrest Jinks, CEO of Altus Equity Group Inc. "With much of the real estate market facing significant distress, sellers are often under pressure and valuations have compressed. Being able to exit an investment at a full valuation in this environment not only affirms our business plan—it also positions us to redeploy capital into a buyer-friendly landscape creating the possibility for even better returns."

This sale, brokered by Todd Schapmire of W Real Estate in Santa Rosa CA, follows a particularly active spring and summer for Altus Equity Group. The disposition of Carousel Industrial Warehouse in Ukiah comes on the heels of the firm's acquisition of six multifamily properties in Odessa, Texas, and the purchase of a light industrial park in the Dallas-Fort Worth Metro. Altus continues to target strategic acquisitions in high-growth markets while maintaining a disciplined focus on opportunistic exits that maximize investor value.

About Altus Equity Group Inc.

Altus Equity Group Inc. is a privately held real estate investment firm that owns and operates properties across the United States; with a primary focus on multifamily and industrial assets. The firm's team of professionals specializes in unlocking hidden asset value through innovative deal structuring, disciplined financing, and rigorous asset optimization—proven strategies that maximize returns for the Altus investor community.

With over 25 years of experience as a real estate sponsor, Altus Equity operates across three core business lines—real estate assets, property management, and private lending—serving institutional and retail clients nationwide. The firm's 93% investor reinvestment rate reflects its consistent performance and strong investor confidence.

Altus has offices in Chico, CA; Austin, TX; and Greenville, SC.

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SOURCE Altus Equity Group