The list below representative sample of sellers and agents that successfully closed real estate transactions with ParCap within the last 24 months:
M&I Bank
Mission Capital Advisors
KB Home
Hogan & Associates
Nicholas Homes
Lee & Associates
Trend Homes
Key Bank
Land Advisors Organization
Standard Pacific Homes
Citibank Residential Lending
Fannie Mae
Deutsche Bank
Wells Fargo
Chase Bank Home Finance
Realty Executives
US Bank National Association
By way of illustration, ParCap recently closed distressed real estate situations as shown in the following table.
Description
Situation
ParCap Solution
135 partially completed residential lots.
Seller was looking for a year end tax-advantaged closing.
ParCap closed the $2 million +/– deal in 4 working days.
280+ finished and unfinished residential lots—$6 million + transaction with outstanding completion bonds and existing residents.
Public homebuilder was looking to mothball an underperforming subdivision and needed a fast year end close.
ParCap worked with the City and existing homeowners to preserve value, safety and security. We hired a new HOA management company to work with the residents.
Over encumbered infill site with an owner in bankruptcy—the bank expressed interest in selling the note.
Regional Bank was looking to dispose of a non-performing real estate loan. Over a 5 month period, ParCap worked with the bank until they agreed to sell the note.
The subject site is infill with a window along a major interstate highway. ParCap opened escrow with the funds necessary to close with no due diligence contingency.
17 partially finished houses and 83 finished residential lots. The borrower/builder was in bankruptcy.
An international loan sale advisor was working with a regional bank that needed a quarter end close—2 buyers ahead of ParCap failed to perform.
ParCap acquired the site in 4 business days, installed security cameras, stabilized the HOA, finished the houses for sale, and worked with the City to resolve occupancy issues at the community.
169 finished remaining residential lots within a larger master plan. The lots were owned by a public homebuilder.
The home builder could not realistically compete with the surrounding foreclosures.
Great infill location that needs an owner with 3 to 5 years of staying power—the HOA has been stabilized and ParCap met with the residents within 48 hours of closing.
Felty Farms
Located in Gilbert, AZ, the site is fully turn key and ready to go with the intersection street light installed and all sidewalk, curb, utilities and half street improvements in place.
The site is zoned Commercial/Retail (CR) in the Town of Gilbert, which allows a variety of uses including gas, mini storage, hardware, charter school and most any retail, provided no single user exceeds 75,000 square feet.
Located in Queen Creek, AZ, La Sentiero is a mothballed subdivision. The East Valley Tribune article "9 housing projects on hold in Queen Creek" briefly describes the status of the subdivison, and it includes comments from Jeff Carlson. The project comprises approximately 140 finished lots, 140 partially completed lots, and 25 completed and sold homes.
Located in Avondale, AZ, Roosevelt Park comprises approximately 77 acres fully entitled for over 450 future home sites. This project offers an excellent window along Interstate 10 and is serviced by two full diamond interchanges.
Located in El Mirage, AZ, ParCap acquired this property out of bankruptcy. It consists of 17 nearly completed single-family homes and 83 vacant finished lots.
Republic Reporter Catherine Reagor tracks the housing and growth markets each day, looking for signs of recovery in Arizona and the Phoenix area – or at least indications that foreclosures and home prices aren’t getting worse.
