SOURCE: Presidio Residential Capital

Presidio Residential Capital

October 21, 2013 11:37 ET

Presidio Residential Capital Partners With Alta Verde Group to Build $43 Million Gated Community in the Coachella Valley

Alta Verde Coral Mountain Features 67 New Homes in a Resort-Style Setting

LA QUINTA, CA--(Marketwired - Oct 21, 2013) - Presidio Residential Capital and the Alta Verde Group announce a new 20-acre gated community at the foot of the beautiful Santa Rosa mountains. Model homes are now open for pre-sale.

Alta Verde Coral Mountain offers 67 three- and four-bedroom homes ranging from 2,600 square feet to 2,900 square feet, with prices starting in the $600,000s.

Presidio, a San Diego-based real estate investment company, will fund $38 million of the $43 million that will enable the Alta Verde Group of Beverly Hills to develop the community.

"This is an ideal community for active families and urban residents looking for a nearby weekend escape," said Presidio principal Don Faye. "This is the best of glamorous California lifestyle at an affordable price."

Designed by Poon Design, Alta Verde Coral Mountain is an elegant resort-style community with lush drought-tolerant landscaping, a Balinese garden park and outdoor courtyards with heated pools. It is located at Madison Street and 58th Street in La Quinta, just minutes from the shops, restaurants and nightlife of Old Town La Quinta and adjacent to the famed PGA West golf complex. PGA West social memberships are included for all homeowners.

"This community has ambience unlike any other community in the desert," said Alta Verde developer and founder Andrew Adler. "Imagine paradise, right next door to a mecca for world-class golf."

The community includes four distinctive contemporary home models designed in tasteful Balinese-influenced "Cali-Bali" style with spacious open floor plans that meld indoors and outdoors. The homes, which incorporate the latest technology with sustainable design, have stunning open living and dining areas under 14.5-foot ceilings and grand open kitchens with sleek Italian cabinetry, quartz-stone countertops, porcelain tile floors and stainless steel appliances.

All homes are equipped to accommodate solar power and include energy-saving features including tankless water heaters, dual-zoned air conditioning and gas heating systems and high-efficiency, low-E, dual-glazed windows.

The Sanctuary and Retreat home types include libraries, two-plus car garages, pools and spas, and Retreat homes are designed to emphasize dramatic mountain views. The Balance plans focus on indoor-outdoor living with floor-to-ceiling glass and open floor planning, and Waters Edge homes include casual pool courtyards that connect to open kitchens. Two of the homes offer optional pool houses or pool cabanas.

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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 equity and non-recourse development and construction financing for residential focused development opportunities throughout the United States. Presidio has infused more than $250 million into the economy to fund, purchase and capitalize on housing development and construction. The firm's goal is to fund in excess of $500 million in debt and equity for home building projects in the United States, and currently has investments in California, Hawaii, Texas, Idaho 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 $2+ billion. Presidio is a member of the Building Industry Association of San Diego (BIA-San Diego) and Urban Land Institute (ULI).

About Alta Verde
Alta Verde Group is a residential real estate development company creating architecturally elegant homes set in highly desirable neighborhoods. Our developments provide superior open floor plans with welcoming interiors, classic exteriors, and affordable price points. Alta Verde homes "democratize" high-end architecture, while maintaining a commitment to contemporary living, historic precedent, and green design practices. Based in Beverly Hills, Calif., the company is helmed by a group of award-winning industry leaders, including CEO Andrew Adler, recipient of multiple National Pillar awards and the industry's most prestigious award, NAHB Builder of the Year (National Association of Homebuilders). AVG has a dedicated corporate staff in all aspects of manage- ment, acquisition, and development, design/marketing and sales of high-volume residential projects.