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Distressed Residential and Senior Housing Good' Opportunities in US

The document discusses Pacifica Equity Partners focusing on distressed residential real estate deals and senior housing opportunities in sunbelt US states. It is looking to buy failed residential projects below replacement cost and also sees senior housing as a long-term opportunity with growing demand but constrained supply due to lack of construction financing. Current market conditions are making senior housing an even more attractive investment.

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Ajay Medikonda
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26 views1 page

Distressed Residential and Senior Housing Good' Opportunities in US

The document discusses Pacifica Equity Partners focusing on distressed residential real estate deals and senior housing opportunities in sunbelt US states. It is looking to buy failed residential projects below replacement cost and also sees senior housing as a long-term opportunity with growing demand but constrained supply due to lack of construction financing. Current market conditions are making senior housing an even more attractive investment.

Uploaded by

Ajay Medikonda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Distressed residential and senior housing goodopportunities in US

San Diego-based Pacifica Equity Partners looks to distressed residential deals and senior housing in US sunbelt states.
posted - 05 Dec 2008 06:00 GMT Zoe Hughes

Failed residential projects in oversupplied markets in the US are some of the best opportunities to be found, according to Pacifica Equity Partners managing director Chris Rosenstock.
Speaking to PERE, Rosenstock said the private equity real estate and development arm of Pacifica Companies was focusing its investment activities on distressed residential opportunities as well as on the
long-term play of senior housing.
He said this was a good timeto be looking at residential projects where homebuilders had been forced to walk away from their projects because they have failed to hit their sales targets or had been
unable to refinance owing to the credit markets.
In some cases, Rosenstock added, "you are buying below the replacement cost. These are the kinds of opportunities that are out there today.
Pacifica,setupbytheIndianIsranifamily,iscurrentlylookingforresidentialinvestmentsinsunbeltstatesandhasclosedondealsinFloridaandSanDiegointhepastcoupleofmonthsaswellasresidential
notes throughout California and Nevada. it also invests in Indian real estate through its India Fund I, according to the firm's website. Pacifia also has two other funds, the US Residential Opportunity Fund I
and the Pacifica Senior Housing Fund I.
Pacifica is also looking to senior housing in the US, according to Rosenstock, with the managing director adding it was a very compelling [Link],yetsupplyisbeing
"impacted by the lack of available construction finance".
In fact, current market conditions and the slowdown in the real estate markets was helping to make this an even more more attractive opportunity", Rosenstock added.
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