SAN DIEGO, CA—(Marketwired – Feb 21, 2017) – Presidio Residential Capital continued to show a strong presence in major markets in 2016, funding 16 new residential projects in the Western U.S. totaling 897 homes located in California, Nevada and Colorado.
“Our success stems from building strong relationships with our joint venture partners who are the top residential builders within their local markets,” said Paul Lucatuorto, partner at Presidio Residential Capital. “In 2016, we were honored to have added several new joint venture partners to our Presidio team such as The Grupe Company, Pebble Creek Companies, Prospect, Van Daele Homes and CaliforniaWest Communities.”
Since the company's inception, Presidio Residential Capital has infused more than $1 billion into the residential real estate market to capitalize the housing industry. In 2017, the firm's goal is to fund an additional $150 million in joint venture equity to residential homebuilders with projects located in the Western United States.
“In 2016, we sold over 900 homes and closed just over 800 units throughout our portfolio,” said Don Faye, partner at Presidio Residential Capital. “We anticipate this upward trajectory to continue with sales and closings expected to exceed 1,000 homes in 2017.”
A breakdown of Presidio's 2016 investments with the company's joint venture partners is outlined below:
San Diego County
Pebble Creek/Casbri Development, Wembley St., San Diego, CA, 16 units
Pebble Creek Companies, Afton Way, Carlsbad, CA, 8 units
Cornerstone Communities, Tesoro at Vista Del Sur, Otay Mesa, CA, 134 units
CaliforniaWest Communities, Westerly, San Marcos, CA, 71 units
San Joaquin Valley
San Joaquin Valley Homes, Pine River Ranch, Visalia, CA, 144 units
San Joaquin Valley Homes, Viscaya, Dinuba, CA, 84 units
San Joaquin Valley Homes, Chandler Park, Hanford, CA, 114 units
San Joaquin Valley Homes, Chelsea West, Visalia, CA, 81 units
San Francisco Bay Area/San Jose
Van Daele Homes, Watsonville, Morgan Hill, CA, 37 units
Van Daele Homes, The Commons, Morgan Hill, CA, 12 units
Grupe Residential, Decoto Crossing, Fremont, CA, 10 units
Santa Rosa
Lafferty Communities, Smith Village, Santa Rosa, CA, 67 units
Las Vegas
Summit Homes of Nevada, Summit Ford, Las Vegas, NV, 18 units
Summit Homes of Nevada, Agate Ranch, Las Vegas, 19, NV, units
Summit Homes of Nevada, Centennial Heights, Las Vegas, NV, 18 units
Denver
Prospect, Sloan's Lake, Denver, Colorado, 64 units
About Presidio Residential Capital
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, California, the firm provides capital in the form of joint ventures for the entitlement, development and build–out of for–sale residential projects throughout the Western United States. Presidio has infused more than $1 billion into the economy to capitalize the housing industry. The firm's goal is to fund an additional $150 million in capital for home–building projects in the Western United States through 2017. It currently has investments in Arizona, California, Nevada, Colorado and Washington with current committed capital of $650 million focused on 95+ projects. 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 $2.5 billion. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn.