PCF has a track record of success in many aspects of Commercial Real Estate, from Office Buildings, Retail Centers and Multi-Family Dwellings, to Residential Development and Raw Land.
The secret to our success has been to team with “Best in Class” Partners on our Joint Ventures. These are partners who themselves have the skill and expertise to create quality Real Estate Properties in tune with the marketplace, which in turn produces high returns for our investors. We maximize this success formula by engaging in long-term business with a select few partners who tend to consistently replicate their success formula. Our projects range in size from $2 Million - $25 Million.
Principals Capital Funding will also function as the General Partner, managing and running our own properties when the project matches our expertise (primarily Multi-family, Land Entitlement and Development).
Here is an example of some current and past projects.
The following projects are just a small sampling of current and past properties owned by Principals Capital Funding and its affiliate companies, demonstrating our key objectives and results. Please call us for more information on our latest offerings.
Current Projects
The Crossings at Carmel Creek - Hutto, TX
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The Crossings of Carmel Creek is a vibrant mixed-use development located in Hutto, Texas. Hutto is a suburb of Austin just 20 minutes from Austin-Bergstrom International Airport on the recently completed SH 130 toll road, which bisects the property and offers an unparalleled view corridor. The Development is comprised of 466 acres and is located on the corner of US 79 and FM 685.
The Crossings of Carmel Creek is fully entitled with a Planned Unit Development (PUD) and Economic Development Agreement in place with the City. Through the PUD, The Crossings of Carmel Creek is entitled for six million square feet of commercial development consisting of retail, office, 2,100 residential units and 900 hotel rooms upon completion. In addition, the project will incorporate 34.7 acres of parkland dedication along Brushy Creek and 31.5 acres of private open space allowing public access and highlighting Carmel Creek. The private parkland will include a 750-seat amphitheater to be completed by 2012, two pedestrian bridges, and a bike/foot path that will connect to the City’s trail system. Principals Capital Funding is partners with Atlantic Coast Development & Glenmount Capital Partners.
Click here for more information: www.thecrossingsofcarmelcreek |
Lockhart SH 130, LLC - Lockhart, TX
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This 377 acre tract is located within the Lockhart, Texas city limits at the intersection of TX Hwy 142 (also known as West Main Street) and the soon to be constructed toll way, State Highway 130. At 91 miles in length, SH-130 is one of the largest toll projects in the U.S., and is budgeted at over $1 billion total.
Lockhart is an historic bedroom community approximately 22 miles southeast of Austin, Texas with a current population of 13,750.
Lockhart is anticipated to go into a high growth cycle once the SH 130 construction is complete in 2011. Lockhart’s growth will result from its prime location, as it is situated along the 60-mile corridor between San Antonio (the 7th largest city in the U.S.) and Austin (the 15th Largest MSA), one of the fastest growing regions in the U.S.
The partners believe that there is a significant value-add opportunity for the Lockhart SH 130 property over a 5-year hold and have recently been granted the mixed use zoning for the property by the city. |
Secured Climate Storage – Austin, TX
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The Principals have arranged the “A” class equity capital and the guarantee of a construction loan for the development of one of the largest high-end storage facilities in the United States. It is 255,000 square feet and features 2,126 units. The first phase holds 680 units, and is now complete.
Secured Climate Storage is located in one of the highest income demographic sub-markets in the Austin metro-area. It is geographically centered between: 5,000+ luxury apartment residences; two Target Superland stores; two Super Walmarts; two Home Depots; and two HEB Grocery stores including their proto-type
superstore at Anderson Mill Road.
Secured Climate Storage was named Austin Business Journal's Best Industrial Project for 2007.
Click here for more information: www.securedclimatestorage.com |
Whitehaven Estates – Oak Hills, CA (High-End Custom Home Development)
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Principals Capital Funding partnered with Givol Management to create the acquisition and development of land in the high desert of Southern California. After successfully buying and selling residential land since 2001, the partnership has been focusing on its latest project, “Whitehaven Estates”, a deluxe equestrian subdivision in Oak Hills, California.
Oak Hills is located in the high desert approximately one hour southeast of Los Angeles, in San Bernardino County, the most affordable county in California. This area offers close proximity to major employment, and presents strategic value as a transportation hub serving Los Angeles, Riverside, San Diego, Phoenix, and Las Vegas. The population of the area has doubled in recent years and is projected to double again to over 1,000,000 people by 2015.
The first house within Whitehaven Estates SOLD for $1,050,000 in the first three hours on the market, which equaled a return of 28 1/2 % to the partners, after full repayment to our investors. PCF arranged the financing for the land and construction equity needed for these homes.
Click here for more information: www.thevineyardestate.com
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The Grove, 4th Street - Austin, TX
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The partners arranged for the construction of four condo units with storybook charm in one of the highest appreciation areas, 78704, near Downtown Austin. The homes at The Grove are nestled on a secluded, tree-lined street and are located in one of the most exciting neighborhoods of Austin, just minutes from downtown. A unique storybook setting comes alive amongst a grove of mature oak trees, where vintage and modern designs converge to create an idyllic retreat.
The project was featured on the front page of the Austin Statesman’s Home Section as one of the most innovative projects constructed in South Austin. Units are currently being marketed for sale.
Click here for more information: www.thegroveaustin.com
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Past Projects
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Dali Place Apartments (128 units) – Baton Rouge, LA
Prior to purchasing this project, Dali Place Apartments required significant rehabilitation and re-tennanting.
Capital Structure – PCF partnered with BG&G III, LLC to raise the equity capital for the purchase and rehabilitation of this property.
Results:The building was successfully rehabilitated, occupied and sold in August 2007. The total project profit was $1.7 million. |
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Country Club Apartments (247 units) – Shreveport, LA
PCF partnered with Walker Investments in raising the money to purchase these apartments in 2003. Our objective was to rehabilitate and strengthen the rental base.
Results: Purchase price was $5.1 million in 2003. It sold for $8.2 million in 2005. |
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Cordova Apartments (156 units) – Shreveport, LA
Results: Purchase price was $2.65 million in 2002. It sold for $4.5 million in 2005. |
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Oak Meadows Apartments (120 units) – Shreveport, LA
Results: Purchase price was $750,000 in 2003 and required $300,000 in rehabilitation. It sold for $2.1 million in 2006. |
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4th Street Apartments (20 units) – Los Angeles, CA
Results:Purchased for $720,000 in 2003. It sold for $1.1 million in 2004.
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Hobart Apartments (30 units) – Los Angeles, CA
Results: Purchased for $1.0 million in 2003. It sold for $1.5 million 6 months later.
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Westlake Apartments (24 Units) – Los Angeles, CA
Results: Purchased for $750,000 thousand in 2004. It sold for $1.15 million in 2004.
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