SAN DIEGO—Most equity providers are fairly optimistic about the residential development sector for the next two to three years and can't really see beyond that, Presidio Capital Partners' principal Don Faye tells GlobeSt.com.
The firm recently funded 16 new residential projects totaling 1,107 homes in major markets during 2017, and since its inception, has infused more than $1 billion into the residential real estate market to capitalize the housing industry. In 2018, Presidio's goal is to fund an additional $150 million in joint venture equity to residential homebuilders with projects located in the Western US. Presidio currently has active investments located in California, Nevada, Arizona, Colorado and Washington totaling in excess of 8,600 units.
We spoke with Fay about equity providers' view of the residential-development landscape and how it views the multifamily market.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
