Elk Ridge
Status:
Completed 2014
Estimated Finished Value: $7,500,000
The Elk Ridge subdivision is a multi-phase residential community in St. Helens, Oregon. Romano Capital acquired 25 finished lots within this subdivision for the purpose of constructing single family residential homes.
The property was designed and engineered by another local developer shortly before the financial crisis. Due to the economic downturn, the finished lots sat vacant for some time. Romano Capital was able to raise funds through a private placement offering to purchase and construct homes within the subdivision.
Of the 25 homes constructed, 15 were sold directly to the public. The remaining homes were held by a Romano Capital managed fund as an income producing rental pool. The Fund then held the homes as rentals until selling them as market conditions improved and home values recovered.
The Elk Ridge subdivision is a multi-phase residential community in St. Helens, Oregon. Romano Capital acquired 25 finished lots within this subdivision for the purpose of constructing single family residential homes.
The property was designed and engineered by another local developer shortly before the financial crisis. Due to the economic downturn, the finished lots sat vacant for some time. Romano Capital was able to raise funds through a private placement offering to purchase and construct homes within the subdivision.
Of the 25 homes constructed, 15 were sold directly to the public. The remaining homes were held by a Romano Capital managed fund as an income producing rental pool. The Fund then held the homes as rentals until selling them as market conditions improved and home values recovered.
Status:
Completed 2014
Estimated Finished Value: $7,500,000.