Mountain Real Estate Capital (MREC), the equity investment division of the Mountain Real Estate Group, declared that it has closed a new investment deal with the Florida- based GL Homes to build the 850-home residential area in Naples, Fla.
The company is making regular investment in Florida and so far has bought 6,500 homes and more than 8,300 acres of land situated in Florida, Fort Myers, Naples, Jacksonville, Orlando, Tampa and West Palm Beach. The company did not disclose the other details of acquisition.
The current transaction is the third such investment of the company in the housing segment of Naples, Florida. The company has designs to make further investments in the housing market of Naples and anticipates that the demand for the housing properties will continue to increase in the coming years. The company is concentrating on three types of investments such as partnership ventures with regional as well as national home building companies to vend residential houses and flats, buying of advantageous assets in association with other developers or for its own use and buying of NPL and bank REO portfolios.
The homebuilder partnership program of MREC is based at its Minneapolis office. The national level inauguration team has offices at California, Newport Beach, Richmond, VA, Los Angeles and Atlanta. The company utilizes the services of the ex-REO managers of Banks to manage and dispose of 46,000 sets of homes evaluated at more than $2 billion. The group utilizes the services of its own national network of reputed builders to continue to concentrate on partnership and equity investments.
Source: http://www.mountainfunding.com/