We’re not only seeing encouraging returns on our investment, but we’re pleased to know our participation is bringing much-needed inventory to market when the housing recovery needs it most.
Woodland Hills, CA (PRWEB) August 06, 2013
Peak Financial Partners, Inc. (http://www.peakfp.com), a private real estate investment firm specializing in multi-strategy investment strategies, announced today that all units in two Ventura County developments currently in the final phases of construction have been sold, and groundbreaking construction has begun for a third venture in the Los Angeles area. These three projects mark the culmination of a two-year initiative bringing together investors, developers, and city officials to leverage the potential of a rebounding housing industry in the region. “The final sale of units in both the Oxnard Vista Urbana and the Thousand Oaks Oak Terrace projects along with construction starting in Sunland represents a pivotal moment for Peak’s investment unit,” states Gil Priel, Managing Director and Principal of the Peak Entities, “reflecting the success of our vision to align the goals of developers with the best interests of local communities to provide viable homeownership options to all classes of home buyers.”
Peak served as primary capital partner for all three projects. Vista Urbana broke ground in October 2011. The affordable housing development consists of 156 townhome units, completing phase I and II of construction during the 4th quarter of 2012 with all units reserved or sold. Units in phase III, currently in the final phases of construction, have all been pre-sold, with the developer considering other locations for similar projects with Peak. Peak was tapped by the same developer to arrange financing for Oak Terrace, a mixed condominium / single-family residence project in Thousand Oaks catering to a more upscale audience, boasting 84 units upon completion. With almost 50% of units built and occupied, the remaining units have also been pre-sold. “The success of Vista Urbana and Oak Terrace is the result of the potential still untapped in the Ventura County region,” states Priel. “Based on the positive response from home buyers, these projects came to market at the right time to meet an overwhelming demand.” Peak is anticipating an equally positive response to their latest development that is in the beginning stages of construction in Sunland. Consisting of 15 luxury equestrian estate homes targeting a more affluent audience, Peak anticipates strong demand as well. “As an investment strategy, we’re finding success in positioning ourselves in all sectors of the market,” Priel explains. “By being a dependable capital resource for developers at this crucial period in the housing cycle, we’re not only seeing encouraging returns on our investment, but we’re pleased to know our participation is bringing much-needed inventory to market when the housing recovery needs it most.”
Peak Financial Partners, Inc. is one of the entities in the Peak Corporate Network headquartered in Woodland Hills, California. In addition to real estate investment services, the Peak Corporate Network entities offer mortgage lending, real estate brokerage and escrow services, short sale services, foreclosure services, mortgage loan servicing, commercial loan modifications, commercial Broker Opinion of Value (BOV) and 1031 exchange services. For more information, visit http://www.peakcorp.com
The Peak Corporate Network is a brand that represents a group of related separate legal entities, each providing its unique set of real estate services.