LOS ANGELES—Presidio Residential Capital hasinvested $18.7 million in South Coast Builders, anaffiliate of South Coast Communities, developmentproject in Baldwin Hills. The 51-unit development sits on 3.6acres, which formerly housed a church and school. Constructionefforts will launch later this year.

Presidio Residential provided all of the capital to fund thisproject, which is not unusual for the company. "Presidio providessubstantially all of the investment dollars need on the projects wefund," Don Faye, principal and Presidio Residential, tellsGlobeSt.com. "We do not bring in other investors on our projectsalthough on occasion we will use Bank debt for some of thenecessary funding."

South Coast Builders is designing the 51 detached units in threefloor plans: a three-bedroom unit with a two-and-a-half bath, athree-bedroom unit with a three-and-a-half bath, and a four-bedroomunit with a three-and-a-half bath. The four-bedroom units will alsofeature top-floor balconies and third-floor casita with a terrace.Each floor plan comes in two or three different variations.Additionally, the community will be gated and includes a communitypark.