After handling 53 transactions in 2013, San Diego-based Presidio Residential Capital says it has $331.4 million committed to loans, land purchases and joint ventures in 2014. The company has funded single-family developments in five states — California, Hawaii, Texas, Idaho and Washington — and has 20 more projects in the pipeline.
Presidio says its objective is to fund at least $500 million in debt and equity for homebuilding projects in the Western U.S.
“We see the next two to three years as being ideal for investing in the residential sector, and we will continue to pursue top-tier developers and builders in solid markets from Texas [and] the Rockies west, where housing supply is tight and capital is relatively scarce,” Presidio principal Don Faye said in a statement. Source: marketwired.com.