LLC, a Colorado limited liability company
is the successor in interest to Joseph Felix Realty
Co., a company established in 1947 as a California
general partnership. The company is family-owned
and operated. Its principal investment initially
was small apartment buildings. During the period
from 1947 to 1973 the company bought, sold and
operated furnished and unfurnished apartment buildings
in Burlingame, San Jose and San Francisco, California.
In 1973 the company commenced to liquidate its
portfolio of apartment buildings and invested in
grocery-store anchored shopping centers, acquiring
Petaluma Plaza in 1973, followed by the Cerritos
shopping center and the Healdsburg Center in 1974.
In 1975 the company acquired a Roseburg, Oregon
Shopping Center. There were no new acquisitions
until 1983 when the partnership acquired a strip
center in Aurora, Colorado. In 1988 they acquired
a shopping center in Colorado Springs, followed
by a center in Antioch, California the following
subsequently acquired a second strip center in Colorado
Springs, two centers in Westminster, Colorado, two
in Centennial, Colorado and one in Longmont, Colorado.
These acquisitions were enabled by the company’s
disposition of the centers in Roseburg, Oregon,
Antioch, California, Petaluma, California and Aurora,
Colorado, and a growing cash flow. At present it
owns five properties in the Denver Metro area, two
in Colorado Springs, as well as the Cerritos center
in California and three shopping centers in the cities
of Glendale, Litchfield Park and Goodyear, Arizona.
The financial management
has always been extremely conservative evidenced by
the amount of debt in relation to equity. All properties
that are retained show an attractive growth potential
and they were purchased with great attention to location,
construction and tenant mix. The properties are held for the long-term rather than purchased for near-term resale value and are well-maintained.
Stanley M. Felix
is senior member and had managed since the inception
of the partnership. He is retired now. He has been a member of the International
Council of Shopping Centers since 1974. In addition
to having been a practicing CPA, he has been a panelist
on several occasions at seminars held by the ICSC organization
and was a consultant and designer for the development
of the ICSC computer software (Centersoft) for the management of
retail shopping centers. For the past ten years Margot
F. Zaterman has served as the Managing Member.
She earned an MBA from UCLA with commercial banking,
finance, and investment banking experience.
enjoyed over a fifty-year old relationship with Wells Fargo
Bank and more recently Bank of the West. Other credit relationships include lenders such
as MTL Insurance Company, MidFirst Bank, Thrivent, and RGA Reinsurance Company.
JFRCO, LLC has the ability to close quickly and bridge
finance any of its acquisitions. As a result, we are
able to compete with REIT’s and other larger
shopping center owners on all acquisitions.
its entire portfolio from the Denver office but retains
on-site managers in Arizona and California on a contract