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SAN DIEGO, Feb. 20, 2018 -- Presidio Residential Capital showed a resilient investment presence in major markets in 2017, funding 16 new residential projects totaling 1,107 homes.
“Year after year, our success is the result of our strong relationships with our joint venture partners throughout the Western United States,” said Don Faye, principal at Presidio Residential Capital. “Our partners are dedicated to providing affordable quality homes that meet housing demand within their local markets, and they are committed to providing exceptional customer service for homebuyers.”
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 2018, 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. Presidio currently has active investments located in California, Nevada, Arizona, Colorado and Washington totaling in excess of 8,600 units.
“In 2017, our projects sold 1,180 homes (a 29% increase compared to 2016) and closed just over 1,300 units (a 61% increase) throughout our portfolio,” said Paul Lucatuorto, principal at Presidio. “We could not have achieved this success without the dynamic team we have assembled at Presidio. Working in conjunction with our builder partners, we anticipate this upward trajectory to continue with both sales and closings expected to exceed 1,700 homes in 2018.”
About Presidio
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 invest in excess of $150 million in capital for home-building projects in the Western United States in the next 12 months. It currently has investments in Arizona, California, Nevada, Colorado and Washington with current committed capital of $800 million focused on 100+ 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.
Media Contacts: Anton Communications
Vanessa Showalter [email protected]
Genevieve Anton [email protected]
