SOURCE: Presidio Residential Capital

Presidio Residential Capital

April 21, 2016 12:10 ET

Presidio Residential Capital and Coastal Community Builders Begin Vertical Construction on New Home Community in Pismo Beach, Calif.

Costa Azure, Newest Neighborhood on Shell Beach, Will Include a Park and Trails, Offer Spectacular Ocean Views

PISMO BEACH, CA--(Marketwired - Apr 21, 2016) - Presidio Residential Capital and Coastal Community Builders are now building model homes at Costa Azure, a 2.6-acre community that will offer 16 single-family residences, two private streets and a common area at Costa Brava, Costa Del Sol and Emerald Pointe in Pismo Beach, Calif. Located on Shell Beach, homes will be open for sale in the spring of 2016, and the community is expected to be completed by January 2017. The retail value of this residential community will exceed $15 million.

All the homes, which will be exquisitely detailed in California or Santa Barbara styles, will have ocean views. The three-bedroom, four-bathroom homes on 5,000- to 6,500-square-foot lots will have stainless steel appliances, brushed nickel fixtures, fenced-in yards and decks for spectacular outdoor living.

Costa Azure will include walking trails, hiking trails and is just a short drive or bike ride to the beach. The community is close to major employers, shopping in downtown Pismo Beach and the Pismo Beach Outlet Mall. Transportation options include an Amtrak station, Central Coast Area Transit and two airports.

"This is the ideal community for people who want to enjoy a home on the coast, whether they're downsizing or upsizing or in the market for a second home," said Coastal Community Builders' president Gary Grossman. "We have options for every type of family."

Coastal Community Builders is the seller, broker and general contractor. Coastal Community Builders and Presidio Residential Capital have partnered to build more than 780 new housing units on California's Central Coast.

About Presidio
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides capital for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $500 million into the economy to capitalize the housing industry. The firm's goal is to fund an additional $250 million in capital for home-building projects in the Western United States, and it currently has investments in Arizona, California, Colorado, Nevada, and Washington. 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 billion. Presidio is a member of the Building Industry Association of San Diego. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn

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