For the first time in eight years, Dick Fausset’s Ventura real estate investment company is buying.
Back in the 1990s, Fausset Neely Inc. went on an acquisition spree, buying up more than 2.86 million square feet of commercial property in California, Texas, Louisiana and Alabama. But in 2001, Fausset stopped buying and started selling.
“In 2001, we bought a business park in Amarillo, Texas, and it was the last deal we were able to make a good buy on,” Fausset said. “So we turned around and began selling our properties.”