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Capital Fund Seeks to Assist Small and Medium Sized Builders in Development Growth in Prescott and Surrounding Areas
PHOENIX, AZ --(Marketwired - February 01, 2016) - Capital Fund, Arizona's premier private lender, has funded acquisition of Hillcrest at Forest Trails in Prescott, Arizona. The $3 million funding will be used for the acquisition and development of exclusive homes on a 17-acre parcel.
Forest Trails is one of the most desirable communities in Prescott, Arizona. Hillcrest will consist of 44 exclusive home sites. Each home will be carefully positioned to capture the panoramic mountain views characteristic of the Prescott area.
Mike Anderson, CEO of Capital Fund says, "Hillcrest at Forest Trails is fantastic. Not only does it capture breathtaking views, but also it is just minutes away from downtown Prescott, which makes shopping, dining, museums, golf and the medical center easy to reach. Plus, the parcel borders Prescott National Forest which will provide exclusivity and privacy. It has all the scenic characteristics of a mountain property, but with the conveniences of being close to town."
Westhill Partners, LLC, a Nick Malouff company, will develop lots and build the single-family homes. Malouff is scheduled to begin his first model in the first quarter of 2016. Bloom Tree Realty will market the project for Westhill Partners. Capital Fund is excited about the prospects for this project and the relationship with Nick Malouff, who is a long time resident and builder in the Prescott area.
Developer and builder Nick Malouff states: "Working with Capital Fund has been terrific. Their team has in-depth knowledge of land development and home construction and they have brought a lot of added value to this project. This deal simply never would have happened if I had gone to a traditional bank since they are too slow and cumbersome." Malouff continues, "In fact, the principals of Capital Fund saw my vision for Hillcrest at Forest Hills. They were creative in structuring this transaction to meet our development timeline and goals."
The team at Capital Fund believes that Prescott and the surrounding areas are poised for continued growth and anticipate many new lending opportunities will emerge in the months ahead. Capital Fund is looking to service more of the small and medium size builders in in Yavapai and Coconino Counties.
"Working with small and medium builders is rewarding," claims Mike Anderson of Capital Fund. "Financing for land development or home construction can be difficult, but that is one of our specialties. Traditional banks move too slow and get hung up on a borrowers' credit history and financial strength. At Capital Fund we focus on the real estate asset and not the borrower. We have become a 'go to' source of financing in many small to medium builders. We can easily say that many projects we have financed would never have happened if the only source of funding was from traditional banking sources. It is great to be associated with building successful projects and creating economic development opportunities in the communities we serve."
Capital Fund is an Arizona-based Private Lender who specializes in offering private funds for non-owner occupied residential homes, commercial properties, construction projects, and lots or raw land. Our extensive knowledge and experience as a private lender has helped us in offering not only funds for investment properties, but also being a excellent resource to use in all real estate investment situations.
Capital Fund can be found online at: https://capitalfund1.com.