Warmstone Commercial

Jamie Warm advises commercial owners on the decision behind the transaction, since the same asset performs differently depending on what its owner needs from it. He holds net-leased assets across California and has acquired on the owner-user side, and underwrites the way a principal does: debt service, tenant credit, residual value, and what the asset is worth to the next holder. That view extends past the sale to where the capital goes next, whether an exchange into net lease, an owner-user acquisition, or a passive replacement when active ownership is no longer the objective.

Elihu Bogan has worked the principal's side of development in Santa Barbara and Montecito since 2013, across acquisition, entitlement, planning approvals, and construction, including SB-9 lot splits and the redevelopment of nonconforming property. Having carried these projects himself, he understands what decides whether a development pencils: zoning, entitlement risk, permitting timelines, and the coordination it all demands. A degree in Mathematical Economics from Pomona College and a career in economic consulting and finance inform a disciplined, analytical read on feasibility and project economics.