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SBC Bios Santa Barbara Capital

© Santa Barbara Capital, 2009

Santa Barbara Capital (SBC), a California-based General Partnership, was formed by two Westmont College graduates, David W. Grotenhuis and Wayne G. Siemens in 1972. The original mission of the company was to acquire, construct and finance Santa Barbara-area assets for long-term appreciation. During the company's infancy limited partnerships were formed to generate a steady stream of acquisitions which generated fees and capital growth along with successful returns to investors. Eventually SBC began to develop important Santa Barbara projects, including Hollister Business Park and The Grove Condominiums.

In the earliest days of the 1990s, the principals of SBC partnered with two capital formation veterans to form Secured Investment Advisors, Inc. (SIA) with the specific intent of acquiring multi-family assets being auctioned by the U.S. Resolution Trust Corporation. SIA teamed up with William E. Simon & Sons, a world-renowned bond-trading organization, to purchase, manage, finance and re-finance thousands of apartment homes, primarily in Oklahoma and Florida. Subsequently SIA, with GE Capital as partner and lender, developed a significant numbers of multi-family communities in Oklahoma, Kansas, Iowa, Nevada and California with notable success.

Since 2000, SBC has concentrated on California-based acquisitions including a significant stake in the Marina Del Rey Hotel and the Marina International Hotel in Marina Del Rey, California. A recent strategy has culminated in the acquisition of Portland-area apartment communities to promote solid cash flow teamed with low capital risk. Recently, with Invest West Financial Corporation of Santa Barbara, SBC completed the purchase of the Gateway Center in Burbank, California.

The ongoing focus of SBC is the development and acquisition of quality, cash-flow, minimal-risk assets in growth-restricted areas.