|By Marketwired .||
|December 17, 2013 01:34 PM EST||
SAN DIEGO, CA -- (Marketwired) -- 12/17/13 -- Presidio Residential Capital has engaged Paul Faye, an industry veteran with more than 15 years of residential, development and housing experience, as an asset manager. Faye will be responsible for a portfolio of existing joint venture and owned assets that Presidio has invested in.
"Having worked with Paul before, I'm excited to have him join our team and be able to access his asset management skills as we continue to expand our portfolio," said Presidio Principal Paul Lucatuorto.
Faye has worked for land developers, homebuilders and capital providers in various capacities including project management, land acquisition and finance management. He has overseen all aspects of the development home construction process, including forward planning, development, and sales and marketing, while working for DR Horton, The Corky McMillin Companies, Warmington Residential and, most recently, John Burns Real Estate Consulting.
Faye also worked with Lucatuorto at TriPacific Capital Advisors, where he was responsible for asset management of more than 1,700 units at the company's West Coast operations. He holds a bachelor's degree in political science from the University of California, Irvine.
"Presidio has partnered with many of the top performing land developers and homebuilders in the Western region," said Faye. "I am looking forward to combining my experience with their expertise."
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides equity and non-recourse development and construction financing for residential focused development opportunities throughout the Western United States. Presidio has infused more than $250 million into the economy to fund, purchase and capitalize on 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