A San Diego private real estate and construction lending company, Presidio Residential Capital is arranging an expansion of its lending services to the central Valley. The company also provides alternative financing solutions for residential and private real estate constructions who will find it more and more complicated to obtain financing.
Presidio Residential Capital, Don Faye said that they have successfully captured the market in Southern California, and now the company’s goal is to work with residential construction and developers in most major areas in Texas and Western United States.
Faye also said that he believes that there is a constant and continuous need to provide new homes in San Diego including California’s Central Valley, which could create a long or short term opportunities and other private real estate market and industries.
Presidio Residential Capital said that it has confirmations of multiple loans that could bring a total of excellent commitment to more than $110 million.
The company will finance an excess of $250 million in the Western United States and Texas for the next 24 months on loans for residential, as well as private real estate and construction projects.
Presidio’s most recent loan is for a land acquisition, development and construction for an affiliate, McMillin Communities, which would build 77-single family-residential and private real estate homes in Rolling Hills Ranch.
The company will also consider a $10 million minimum loan commitment, provided that the project and builder will meet specific standards set by the company.
The private real estate and construction lending company is a member of different Building Industry Association affiliates including— Southern California, San Diego, North State, and Bay Area.