SOURCE: Presidio Residential Capital
SAN DIEGO, CA--(Marketwired - Jan 14, 2014) - Paul Lucatuorto, an institutional land investment expert with more than 25 years of experience, has joined San Diego-based Presidio Residential Capital as a principal.
Lucatuorto comes to Presidio from Irvine-based TriPacifiic Capital Advisors, where he was a principal and a member of the Board of Managers.
Previously, Lucatuorto was vice president of Prudential Real Estate Investors and an adviser to the California Public Employees' Retirement System, the nation's largest pension fund. He has also been a project manager for Home Capital Corporation, the real estate arm of HomeFed Bank.
Lucatuorto earned an undergraduate degree in business administration from San Diego State University.
In his new role at Presidio, Lucatuorto will join founder Don Faye in seeking out and managing residential investments on behalf of Presidio's capital partner. "After 25 years of managing institutional capital, I'm very excited to be associated with a private equity group that allows us to be more opportunistic in today's expanding real estate market," Lucatuorto said.
"We are thrilled to have Paul on board," Faye said. "He brings a wealth of experience and savvy that will help take Presidio to yet another level."
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 both levered and non-levered equity and non-recourse construction financing for for-sale residential focused development opportunities throughout the Western United States. Presidio has infused more than $250 million into the economy to capitalize 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 Western 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 more than $2 billion. Presidio is a member of the Building Industry Association of San Diego. www.presidioresidential.com