Target Markets:
PRCP will acquire well situated assets located in growing, high barrier to entry
markets (markets where development is prohibitively expensive due to a scarcity
of land or adverse regulatory conditions). PRCP will target the following Geographic
Regions of the Country:
• Washington, New York, Boston Corridor
• South Florida
• Texas
• Coastal California
Asset Characteristics:
PRCP will make investments either directly in real estate or through under performing
or non–performing loans. Generally, PRCP will acquire assets with all or some of
the following characteristics:
• Purchase price represents a significant discount to replacement cost
• Purchase price range between $20 million and $500 million
• Existing communities or development sites acquired through off market transactions or through limited brokerage
process
• Asset underperformance attributable to: poor/reactive management, lender ownership (REO), stalled or incomplete business plans
• Assets held within financially distressed ownership structures