SOURCE: Presidio Residential Capital

Presidio Residential Capital

March 15, 2017 15:28 ET

Cornerstone Communities and Presidio Residential Capital to Hold Grand Opening at Calistoga at The Promontory in Southeast Murrieta, Calif., on March 18

New Neighborhood to Offer 64 Single-Family Homes Within 160-Acre Master-Planned Community with Open Space, Parks and Trails

MURRIETA, CA--(Marketwired - Mar 15, 2017) - Cornerstone Communities and Presidio Residential Capital will hold a grand opening at Calistoga at The Promontory on Saturday, March 18. One of three new residential developments within a 160-acre master-planned community in the French Valley area of southeast Murrieta, Calistoga at the Promontory is offering 64 detached single-family homes close to award-winning schools, shopping, services and entertainment.

Located just north of Temecula and in the highly rated Temecula School District, the $26 million community is close to Murrieta Plaza, Rancho Temecula Town Center and Promenade Temecula. The neighborhood is designed to preserve the majesty of the surrounding natural elements and undisturbed creek site, with only 37 percent of The Promontory's 160 acres developed and the remaining 63 percent preserved as natural open space. The community features numerous amenities, including parks, playgrounds, sports fields and walking and biking trails.

No two homes at Calistoga at The Promontory are alike. The community's single-family homes offer nine different styles and a variety of color schemes. Homes feature open living areas and range up to 2,037 square feet with up to four bedrooms. They have large island kitchens, flexible spaces and generous master suites with walk-in closets.

"Affordable homes in such a convenient location with this level of amenities are hard to find in this area," said Cornerstone's President Michael Sabourin. "We don't expect the homes at Calistoga at The Promontory to stay on the market for long."

An information trailer is open at the site Thursdays through Sundays from 10 a.m. to 5 p.m. and Mondays from 1 to 6 p.m.

In addition to Calistoga, this master-planned community offers two other communities. Homes at Bellevue at The Promontory range up to 3,332 square feet, many with spectacular views of the surrounding countryside. The homes have up to seven bedrooms, three-car garages and optional casitas. Brighton at The Promontory features family homes on generous home sites with up to five bedrooms, two-car garages and flex space.

In a joint venture partnership, Presidio Residential Capital and Cornerstone Communities are also developing The Preserve, 535 units in Carlsbad, Calif.; Pacific Ridge, 317 units in Oceanside, Calif.; Otay Ranch, 225 units in Chula Vista, Calif and Tesoro at Vista Del Sur, 88 units in San Diego, Calif.

About Cornerstone Communities
The management team at Cornerstone Communities is comprised of a seasoned group of development and building professionals possessing over 150 years of combined experience in the homebuilding field having developed, mapped, and/or constructed over 15,000 homes in over 60 developments throughout California and Nevada. Professional Builder magazine heralded the group as one of the nation's Building Giants. Cornerstone has been consistently ranked as one of San Diego's top privately held residential homebuilders by the San Diego Business Journal and was recently recognized as one of the Top 500 Privately-Held Businesses in the U.S. by DiversityBusiness.com. Additional information is available at www.cornerstonecommunities.com.

About Presidio Residential Capital
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, California, the firm provides capital in the form of joint ventures for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $1 billion into the economy to capitalize the housing industry. The firm's goal is to fund an additional $150 million in capital for home-building projects in the Western United States through 2017. It currently has investments in Arizona, California, Nevada, Colorado and Washington with current committed capital of $650 million focused on 95+ projects. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Current assets under management total more than $2.5 billion. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn.

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