VISALIA, CA--(Marketwired - Aug 22, 2016) - San Joaquin Valley Homes (SJV Homes) celebrates its third anniversary in business this month, the busiest homebuilder in Tulare County is pleased to announce it has closed its 500th home.
"At San Joaquin Valley Homes, we're proud to be providing quality homes for local residents and work for local contractors," said Joe Leal, co-founder of Visalia-based SJV Homes. "Selling our 500th home is an important milestone and a major achievement for a smaller local builder that competes against large national builders. We look forward to getting another 500 families into their new homes and closing our 1,000th home before the end of 2017."
Presidio Residential Capital, a San Diego-based real estate investment company that funds 100 percent of SJV Homes' projects and operations, applauded the success of its ownership partner in the Central Valley.
"Three years ago when we started this homebuilding operation from scratch, we were looking for a top notch-team of local developers that knew the market and had a proven track record," said Presidio Principal Don Faye, a 30-year veteran in the real estate finance industry. "We saw an opportunity in the Central Valley to build moderately priced homes that would turn a reasonable profit, so we moved quickly to tie up available land and begin the homebuilding process."
Enter Leal, Jim Robinson and Randy Merrill, who had overseen construction of more than 800 quality homes a year while working together for another builder, The Corky McMillin Companies. With Presidio's financial backing, they hit the ground running and grew the company into a successful homebuilding operation with a team of about 40 local staff members and its own design center located in the company's main office in Visalia.
"In just three years, SJV Homes has contributed valuable stock to the Central Valley housing market, which has seen strong new home construction and sales," said Robinson. "Most of our team members grew up in the Central Valley, and we look forward to many more years of working in a region that we love and call home ourselves."
SJV Homes now has seven neighborhoods open for sale in the Central Valley region and two new properties scheduled to open soon in Tulare County: Pine River Estates in Visalia and Viscaya in Dinuba.
The following is a breakdown of SJV Homes' current projects:
Tulare County
Sedona at Palo Verde, 106 units, Tulare, Calif.
Chelsea Place, 155 units, Visalia, Calif.
San Marino, 95 units, Visalia, Calif.
Savannah, 162 units, Tulare, Calif.
Pine River Estates, 144 units, Visalia, Calif. (coming soon)
Viscaya, 87 units, Dinuba, Calif. (coming soon)
Kings County
Hartley Grove, 182 units, Hanford, Calif.
Pheasant Ridge, 76 units, Corcoran, Calif.
Kern County.
Tuscany Village, 116 units, Bakersfield, Calif.
Since 2009, Presidio has funded more than 90 new residential projects totaling more than $650 million in committed capital and plans to invest $250 million more over the next 12-plus months.
"We are looking for top-tier developers and builders with high quality projects in solid markets from the Rockies west, including Arizona, California, Nevada, Colorado and Washington," said Presidio Co-Principal Paul Lucatuorto. "We have a single source of funding, so when we find the right project, we can fund it quickly. If we say we're going to do it, we perform."
About SJV Homes
Deeply rooted in residential construction, the founders of Visalia, California-based San Joaquin Valley Homes have built thousands of quality homes and attractive neighborhoods for Central Valley residents. Founders Joe Leal, Jim Robinson and Randy Merrill share a vision of delivering excellence through every level of building, delivering wonderful homes in great neighborhoods. In 2013, SJV Homes combined forces with Presidio Residential Capital, a real estate investment company based in San Diego. www.sjvhomes.com
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 $650 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, Nevada, Colorado 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.
Contact Information:
Media Contacts:
Anton Communications
Vanessa Showalter
vshowalter@antonpr.com
Genevieve Anton
ganton@antonpr.com