Presidio Residential Capital Closes 31 Real Estate Transactions Totaling $220 Million in California, Washington and Nevada in 2014
Private Equity Fund Shows Strong Presence in California, Makes Major Push Into Growing Urban Markets of Seattle, Denver and Las Vegas
(firmenpresse) - SAN DIEGO, CA -- (Marketwired) -- 04/13/15 -- As residential real estate in the Western United States continued to recover last year, Presidio Residential Capital showed strong presence in major markets in 2014, funding 31 projects totaling approximately $220 million in committed capital located in California and Washington and growing urban markets including Denver, Las Vegas and Seattle.
"2014 was an incredibly exciting year for Presidio," said , co-principal at Presidio Residential. "Our success points directly to 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. In 2015, we look forward to continuing to foster these relationships while seeking new partners on a selective basis."
The private equity fund, which has provided more than $500 million in joint-venture equity and loans to residential homebuilders since 2010, has already committed another $57.3 million to option entitlement deals for 2,426 units in California in 2015.
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.
"Presidio understands the markets it's in and has focused on working with operators who have strengths in those markets," said , founder, president and CFO of BlackPine Communities in Sacramento. "When I began working with Presidio on our first project, Curtis Park Village, the principals were truly interested in getting to know me, my vision and my business plan. We speak a common language, and they're not Wall Street types."
, chairman and CEO of Cornerstone Communities in San Diego, said Presidio's deep experience in and understanding of the local market has been invaluable throughout good times and bad.
"This is a cyclical market, and even a rising market will have its challenges," he said. "It's great to know we're with a partner who has seen it all."
A breakdown of committed capital by region of Presidio's 2014 investments with the company's joint venture partners is outlined below:
, The Creamery, Sacramento, CA, 117 units
, Woodbury, Fair Oaks, CA, 17 units
, Templeton Ranch, Templeton, CA, 107 units
, The Village at Pacific West, Pismo Beach, CA, 36 units
, Bellaserra, Arroyo Grande, CA, 11 units
, San Luis Ranch, San Luis Obispo, CA, 463 units
, The Terraces at Las Ventana, Santa Maria, CA, 36 units
Richards Farm, Denver, 125 units (land bank)
, Shadow Pointe, Las Vegas, 36 units
, Willow Ridge, Las Vegas, 36 units
, Canyon View, Las Vegas, 16 units
, Alcini, Morgan Hill, CA, 15 units (entitlement)
Carlton Oaks, Santee, CA, 240 units (entitlement)
Pacific Ridge, Oceanside, CA, 330 units
, Carlsbad 9, Carlsbad, CA, 8 units (entitlement)
, AutumnWood, Antelope, CA, 46 units
, Phantom Trail, Santa Clarita, CA, 29 units
, Foothills, Sylmar, CA, 74 units
, Lucas Valley, Marinwood, CA, 28 units (entitlement)
, Amber Fields, Brentwood, CA, 36 units
, Marin Bluffs, Corta Madera, CA, 46 units (entitlement)
, Tuscany Village, Bakersfield, CA 116 units, $7.7 million
, Ellis Ranch, Visalia, CA, 95 units, $8.2 million
, Cedarbrook, Seattle, 9 units
, Pickering Estates, Seattle, 20 units
, Puget Meadows, Seattle, 37 units
, Ivy Estates, Seattle, 9 units
, Copper Ridge, Seattle, 15 units
, Brickyard Ridge, Seattle, 13 units
, Forest Heights, Issaquah, Wash., 24 units
, Jazz Run, Issaquah, Wash., 11 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 $500 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 .
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Datum: 13.04.2015 - 16:30 Uhr
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