SOURCE: Presidio Residential Capital

Presidio Residential Capital

April 27, 2017 12:59 ET

Summit Homes of Washington and Presidio Residential Capital Have Sold Out Two Communities in Kirkland and Lacey

Nine Homes Sold at Cedarbrook, 37 Homes Sold at Puget Meadows

SEATTLE, WA--(Marketwired - Apr 27, 2017) -  Summit Homes of Washington and Presidio Residential Capital recently announced all homes have been sold at Cedarbrook, a nine-home private community in Kirkland, Wash., and Puget Meadows, a 37-home community in Lacey, Wash.

"Demand for quality housing continues to soar in the Seattle area, and we're not surprised these excellent new neighborhoods sold out so quickly," said Summit Homes of Washington's marketing manager Kristian Young. "Summit Homes will continue to provide much-needed housing opportunities in this rapidly growing area."

Cedarbrook is a private community with nine custom homes on 1.6 acres in the Rose Hill area of Kirkland, a tight-knit community that offers boutique shops, restaurants, upscale bars and excellent schools. Bordering the eastern shore of Lake Washington, Kirkland has consistently held its value and even gained in appreciation when other market areas have struggled. The homes were priced in the $900,000s.

Puget Meadows offered 37 three- to five-bedroom homes starting in the $200,000s. Located within the North Thurston School District and near employment and shopping centers, Lacey has five freshwater lakes within the city, miles of hiking and biking paths, several championship golf courses, more than 1,100 acres of public parkland and the 3,700-acre Nisqually National Wildlife Refuge, which provides unlimited opportunities for outdoor recreation.

Summit Homes of Washington and Presidio, a San Diego-based real estate investment company, have partnered on a total of 11 projects in the western Washington corridor that includes Seattle, Tacoma, Olympia and their suburbs.

About Summit Homes of Washington
Locally owned and operated by the White family, Summit Homes of Washington has been a home-building staple for more than 30 years. Summit Homes has built nearly 3,000 homes in well-planned communities throughout the state of Washington. Summit Homes works with local architects, designers and subcontractors in order to build premium homes. www.summithomeswa.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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