On June 1st, 2022, Marterra and it's partners acquired 1592 Redlands, Costa Mesa. The property was acquired off-market at a significant discount to market. The plans are currently being processed at the City to subdivide the almost 8,000 square foot lot into a front and back lot for sale development. The homes are new homes are estimated to be approximately 2,700 square feet each and are anticipated to be ready for sale in late 2024.

The property was acquired with bridge loan a from a private lender until the property entitlements are complete and a construction loan can be placed on the property. In order to generate some yield during the entitlement process the back unit is being leased out a fully furnished rental and the driveway is being rented out as outdoor storage.