Presidio Residential Capital Closes 33 Real Estate Transactions Committing Over $200 Million in California, Washington, Arizona and Nevada in 2015
Private Equity Fund Continues to Increase Investments in Its Target Markets Including California, Phoenix, Seattle and Las Vegas
(firmenpresse) - SAN DIEGO, CA -- (Marketwired) -- 03/04/16 -- Presidio Residential Capital showed strong presence in major markets in 2015, funding 33 new residential projects totaling approximately $200 million in committed capital located in California, Washington, Nevada and Arizona.
"2015 was another successful year for Presidio," said Paul Lucatuorto, co-principal at Presidio Residential. "Our continued success is based on our strong builder/developer relationships. Presidio''s partners are among the absolute best within their local markets and their performance thus far has proven that. We look forward to another prosperous year in 2016."
The private equity fund has current commitments of more than $500 million in joint-venture equity to residential homebuilders. As of December 31, 2015, Presidio has committed an additional $50 million to option entitlement projects for 2016.
Presidio''s philosophy of working hand-in-hand with local builders/developers and its personal approach to business in a relaxed, congenial culture has been one of the keys to the company''s success.
"In a market that demands quick decisions to be made, it is extremely imperative that you don''t waste time in translation," said Ure Kretowicz, CEO/chairman of the board at Cornerstone Communities. "You need to have a partner that understands the vocabulary, the salient deal points, and the importance of commitments that you can count on. This is the foundation that credibility and integrity is built on, which is what we have with Presidio."
A breakdown of committed capital by region of Presidio''s 2015 investments with the company''s joint venture partners is outlined below:
, The Creamery, Sacramento, CA, 117 units
, Summit Jones, Las Vegas, 20 units
, Summit Dunville, Las Vegas, 9 units
, Summit Grand Canyon, Las Vegas, 12 units
, Summit Dorrell, Las Vegas, 25 units
, Summit Ford Durango, Las Vegas, 18 units
, Mana Marin, Marin, CA, 46 units (entitlement)
, Mayacama, Napa, CA, 18 units
, The Preserve, Carlsbad CA, 36 units
, Otay 225, Chula Vista, CA, 227 units
, The Promontory, French Valley, CA, 272 units
, Phantom Trail, Santa Clarita, CA, 29 units
, Tovara, Sylmar, CA, 74 units
, Indigo, Baldwin Park, CA, 51 unit
, The Cove, La Quinta, CA, 29 units
, Amber Fields, Brentwood, CA, 36 units
, The Enclave at Ventura, Ventura, CA, 91 units
, Veranda at Riverpark, Oxnard, CA, 95 units
, Savannah, Visalia, CA, 130 units
, Palo Verde, Visalia, CA, 106 units
, Brickyard Ridge, Seattle, 13 units
, Forest Heights, Seattle, 24 units
, Jazz Run, Issaquah, 11 units
, Innswood Estates, Seattle, 10 units
, The Ridge at Troon North, Scottsdale, AZ, 65 units
, Encue, Phoenix, AZ, 46 units
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides capital for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $500 million into the economy to capitalize the housing industry. The firm''s goal is to fund an additional $250 million in capital for home-building projects in the Western United States, and it currently has investments in Arizona, California, Colorado, Nevada, and Washington. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Current assets under management total more than $2 billion. Presidio is a member of the Building Industry Association of San Diego. Online and social media: , , and .
Media Contacts:
Anton Communications
Vanessa Showalter
Genevieve Anton
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Datum: 04.03.2016 - 16:11 Uhr
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News-ID 1419722
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