LOS ANGELES—Presidio Residential Capital has invested $18.7 million in South Coast Builders, an affiliate of South Coast Communities, development project in Baldwin Hills. The 51-unit development sits on 3.6 acres, which formerly housed a church and school. Construction efforts will launch later this year.

Presidio Residential provided all of the capital to fund this project, which is not unusual for the company. “Presidio provides substantially all of the investment dollars need on the projects we fund,” Don Faye, principal and Presidio Residential, tells GlobeSt.com. “We do not bring in other investors on our projects although on occasion we will use Bank debt for some of the necessary funding.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. Multifamily Fall 2022Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.