Choose the place
Compare local employment, housing demand, affordability, competing supply, and the acquisition basis.
Martinsburg · Principal operating experience
From investment thesis
to operating reality.
A five-year ownership story connecting property decisions, local relationships, and the practical limits of execution.
The portfolio and operating history shown relate to Invest Proxima LLC and related ownership entities associated with Diego Losada. Those entities are separate from LOXAR. This is principal investment and operating experience, including activity that predates LOXAR, rather than a LOXAR-owned portfolio or completed LOXAR advisory engagement.
2021–2026 · The investment-to-operation sequence
A market decision becomes
an operating responsibility.
The experience can be examined through five stages. LOXAR’s current tools provide a framework for interpreting it, rather than proof that those tools existed at the original acquisition dates.
Underwrite the asset
Connect rents and expenses to renovation needs, financing, reserves, and an operating plan.
Improve & lease
Coordinate contractors, restore usable space, respond to tenants, and build leasing activity.
Operate & adapt
Track cash flow, maintenance, insurance, vacancy, and the cost of delivering the intended use.
Reallocate capital
Hold, sell, refinance, or reposition as evidence changes. Treat exit assumptions as decisions to revisit.
A dated asset record
The portfolio has
more than one chapter.
The March 2026 schedule identifies nine holdings across three entities. The Q2 case study also documents an earlier disposition. This is a historical record, not a certification of ownership today.
| Asset | Entity | Recorded status or use |
|---|---|---|
| East Martin Street | QueenMartin LLC | Acquired September 2021. Hold in Q2 2026. |
| West Martin Street | QueenMartin LLC | Acquired October 2021. Hold in Q2 2026. |
| North Queen Street residential asset | QueenMartin LLC | Acquired November 2021. Hold in Q2 2026. |
| East Burke Street / The HUB | HUB Martin LLC | Office and workspace. Operating history through 2025. |
| North Queen Street / HUB Suites | HUB Martin LLC | Office and workspace. Operating history through 2025. |
| Water Street | QueenMartin LLC | Lodging asset in March 2026 schedule. |
| River House | QueenMartin LLC | Lodging asset in March 2026 schedule. |
| Castle / The Red Castle | HUB Martin LLC | Vacant during the 2023–2025 reporting period. |
| The Garage on King | King Martin LLC | Food hall opened January 2024. Operations ended April 2026. Repositioning. |
| West King Street, sold asset | QueenMartin LLC | Acquired April 2023. Sold May 2025. Historical disposition, outside the nine-holding schedule. |
The North Queen residential and office entries are separate assets in the source schedule. Portfolio-wide unit counts are not presented.
The Garage on King · Community activity
A place to test a business.
A record beyond the building.
The food-hall model gave local restaurant operators a setting to test concepts, serve customers, and build an operating history.
The venue also hosted private dinners, fundraisers, and community events. Those contributions are part of the operating story, alongside the financial constraints that led to closure.
Management-reported in the March 11, 2026 closure discussion, covering approximately two years of operations. Orders are not unique customers. These are activity measures, not audited economic-impact estimates or investment returns.
Operating experience
Revenue, costs, and cash flow all matter.
The portfolio’s history includes operating improvements, vacancy, financing costs, and repositioning. Positive net operating income does not by itself establish positive cash flow after debt service and capital needs.
The Garage’s closure and the continuing work on office leasing and asset repositioning inform how we test assumptions, plan reserves, and reassess an investment when operating conditions change.
Working in the local economy
Working with the whole community.
Embedding in Martinsburg meant working with the people who shape local finance, education, legislation, property transactions, and economic development. Each relationship brought a practical role in moving projects forward.
City leadership & public process
Diego’s account of the Martinsburg work includes the Mayor’s office, City Manager, and city and county officials. That experience informs how we examine land use, approvals, local priorities, and implementation responsibilities.
Source: principal account recorded in the October 2026 Strategy materials.
BCDA & entrepreneurship
BCDA publicly lists Diego as a 2025 Build-Up Berkeley mentor. This is a specific contribution to local entrepreneurship, separate from an advisory contract with the authority.
Businesses, contractors & tenants
The platform required ongoing work with contractors, brokers, attorneys, business tenants, restaurant operators, and residents. These relationships bring maintenance, leasing, procurement, and tenant economics into everyday decisions.
Sources: principal account and portfolio operating report.
The Garage: activation & adaptation
The food hall combined vendor operations, a bar, private dinners, and events. Sales weakened after launch, and the operation closed in April 2026. Its history informs how we separate community activity from a financially sustainable operating model.
Source: Invest Proxima portfolio report and subsequent operating updates.
Community bankers & local capital
Relationships with local community bankers, including Jefferson Security Bank, brought local knowledge into financing, construction draws, debt service, and capital decisions. Financing had to fit both the property plan and operating conditions.
Source: principal account, October 28, 2026, and the referenced operating records where applicable.
Community-college leadership & workforce
Engagement with heads of local community colleges connected the operating platform to workforce development and education. The Garage’s records include WV Learn & Earn support. The broader lesson is to involve educators when local projects depend on skills and employment opportunities.
Source: principal account, October 28, 2026, and the referenced operating records where applicable.
State delegates & senators
Work with state delegates and state senators sought alignment on changes to legislation intended to allow modern projects to move forward. This experience informs how we identify policy constraints and engage the responsible public officials. No specific enacted change is claimed here.
Source: principal account, October 28, 2026, and the referenced operating records where applicable.
Accountants, real estate lawyers & realtors
Local accountants, real estate lawyers, and realtors contributed knowledge of property economics, transactions, documentation, and market conditions. Their involvement connected investment analysis to the local requirements of buying, financing, leasing, and operating.
Source: principal account, October 28, 2026, and the referenced operating records where applicable.
Investment and local development belong in the same conversation.
Invest Proxima’s Martinsburg experience informs how LOXAR approaches work with local governments, housing finance agencies (HFAs), public housing authorities (PHAs), and local development agencies. We examine the market and property, then connect the analysis to financing, public priorities, local expertise, workforce needs, and the people responsible for delivery.
We intend to continue this community-based work through principal investment and LOXAR advisory assignments, with responsibilities and ownership made clear.
References identify roles and experience. They do not imply that the Mayor, City of Martinsburg, BCDA, any bank, or any college endorses LOXAR, guarantees results, or has retained LOXAR.
What carries forward
Experience that sharpens
the next decision.
Market strength does not resolve asset risk.
An attractive local thesis still needs property diligence, sustainable rents, realistic expenses, reserves, and financing that the asset can support.
Activation and feasibility require separate evidence.
A place can attract visitors and support entrepreneurs while its operating model remains unprofitable. Both outcomes need to be measured.
Implementation needs owners and alternatives.
A strategy needs a responsible party, funding, sequencing, and a response when assumptions fail. Repositioning is part of the decision set.
Source & attribution notes
The record behind this page.
- Invest Proxima Portfolio Performance Report 3-10-26, pages 1–13: entity structure, asset schedule, 2023–2025 operations, and Garage repositioning plan.
- Martinsburg WV: Case Study Using Loxar Disciplined Approach, Q2 2026: selected acquisition dates, held assets, and May 2025 West King disposition.
- LOXAR Martinsburg Data & Evidence Register and Presentation Development Brief, October 15, 2026: attribution, historical roster, relationships, and reconciliation needs.
- Invest Proxima portfolio website: original portfolio imagery and business descriptions. Some descriptions predate operational changes.
- BCDA’s mentor listing and Build-Up Berkeley program description: publicly documented participation and program context.
Historical account prepared October 2026 from management records and principal experience. Asset information is dated to the source periods shown. This page does not present an audited investment track record, current appraisal, investment offer, or forecast.
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