Steve Leonard

Managing Principal & Founder

After graduating from UCLA in 1977, Steve Leonard entered the real estate business as his primary profession. He formed Pacifica Holding Company in the early 1980s to take advantage of commercial real estate cycles, initially in Los Angeles, later in Denver in the early 1990s, back in Southern California in the late 1990s, sold out in mid-2000’s and on the “side lines” until aftermath of 2010 financial crisis, and then back aggressively in west coastal cities including San Diego, Seattle, Portland, Los Angeles and Santa Barbara.

Commercial Real Estate Investments

Pacifica assembled a portfolio in those markets near or at low points through acquisition/repositioning and, as the cycles progressed, “ground up “development with private and institutional investors. Later, as real estate markets in the various locations recover and too often prices reached extreme levels, Pacifica sold its holdings and looked elsewhere for opportunity.

RAF Pacifica

Since 2012, Pacifica has teamed with RAF Pacifica Group (founded by Adam Robinson) to invest, develop, and operate commercial and mixed-use properties in Southern California (concentrating in North County San Diego and the greater Santa Barbara areas). During this period there have been numerous acquisitions, repositioning of existing buildings, and ground-up developments, totaling several million square feet. Most properties are held for the long-term with both private and institutional equity partners.

Pacifica Capital Investments

Returning to Southern California in 1998, Mr. Leonard secured his Series 6 Securities License and founded Pacifica Capital Investments. The firm is dedicated to implementing the same value-based investment philosophy in public equities that he has deployed so successfully in commercial real estate
By concentrating holdings in the best managed companies, investing in only businesses it understands well, and buying stock only when priced at a discount to intrinsic value, Pacifica has generated an impressive long-term track record. Mr. Leonard is Pacifica’s largest investor, and all of Pacifica’s key executives have the great majority of their wealth invested alongside clients in Pacifica.

Professional and Personal

Mr. Leonard has spoken at many investment forums such as the Value Investing Congress, both the LA and Denver Chapters of NAIOP, and the Colorado Real Estate Journal Forum. Steve has served on the board of directors of both public and private companies, including Anton Properties, Colorado Gaming and Entertainment, BJ’s Restaurants, and Fortis Private Bank in Denver. He is also founder of Brokers for Battered Kids, a charitable organization that has raised almost $3 million for disadvantaged children in the Denver area.
Steve and his wife Cindy have two children and reside in Santa Barbara, California.