SOURCE: Presidio Residential Capital

Presidio Residential Capital

October 11, 2016 17:23 ET

Van Daele Homes and Presidio Residential Capital to Build New Community in Morgan Hill, Calif.

MORGAN HILL, CA--(Marketwired - Oct 11, 2016) - Van Daele Homes and Presidio Residential Capital recently purchased 1.7 acres at the northwest corner of San Pedro and Church streets in Morgan Hill, Calif., where they will build a new community called The Commons, a neighborhood with 12 homes. Homes are expected to be available to homebuyers for purchase in February 2017, and the project is scheduled to be complete by August 2017.

"Our primary goal is to deliver a quality built home of exceptional value," said Jeffrey Hack, president and CEO of Van Daele Homes. "This is why we are excited to offer The Commons to new homeowners."

The Commons will include 3,485- to 6,056-square-foot lots and a park with an arbor and benches. This new development will be located about 30 minutes from major Bay Area employment centers, one mile from a Caltrans station and close to parks, hiking trails, and golf courses. Homes are expected to be available to homebuyers for purchase in February 2017, and the project is scheduled to be complete by August 2017.

This project is Van Daele Homes' first joint venture with Presidio. As one of the most highly regarded capital providers in today's residential real estate industry, Presidio continues to seek partnerships with proven operators who know their local markets and have a track record of getting things done.

About Van Daele Homes
Van Daele Homes is a well-respected family-owned home development company located in Southern California with a strong presence in the Bay area since 2013. The management team is comprised of some of the most respected and experienced homebuilding professionals in the industry. Since 1987, Van Daele Homes has created exceptional new home communities for more than 15,000 families. Van Daele won BIA Builder of the Year and its innovative community in the Irvine area, Sevilla at Portola Springs, won the Golden Nugget Award for design. www.vandaele.com

About Presidio Residential Capital
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