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January 9, 2001
SAN DIEGO - San Diego-based Capstone Advisors is now funding two new residential projects. High Point in Escondido by Innovative Resort Communities and Ashbrook Communities' new project at PGA West in La Quinta both recently closed escrow.
High Point, a collection of expansive lots with grand scale views of the mountains, is a joint venture with San Diego-based Innovative Resort Communities. It features 39 mountain-top view lots on 500 acres of land ranging in size from 2 acres to 80 acres in Northern Escondido. Each lot will include a 20,000 square foot pad. Homes will average 3,300 square feet.
"Each lot has been strategically positioned up on the hill-tops to take full advantage of the natural beauty of the area," said Alex Zikakis, president of Capstone Advisors. "There is no other area of San Diego County with lots this size and views of this magnitude so close to the city. This makes High Point as extraordinary site."
Capstone Advisors' and Carlsbad-based Ashbrook Communities newest project will feature 92 fairway view lots located on the Tom Weiskopf golf course in one of the most coveted golf communities in the world, PGA West in La Quinta. Each single home will average 2,300 square feet. Prices start at the mid-$300,000s.
"With six championship golf courses, the community of PGA West reflects country club living at its finest," said John Trotter, vice president of acquisitions. "Ashbrook Communities' new homes at PGA West will be an exceptional value."
"To be highly effective as an equity partner, advisor and asset manager, we must react quickly to the real estate market's everchanging climate and opportunities," said Zikakis. "By fully utilizing our team's combined experience, vision and expertise, we recognized that both High Point and Ashbrook Communities at PGA West are two exceptional projects based on the increasing growth and positive real estate markets in Northern San Diego County and Coachella Valley."
Capstone Advisors' residential advisory services are involved in every phase of residential community development from assisting in project conception through the marketing of the completed home. Their range of services includes due diligence, financial structuring, construction management oversight, marketing review, accounting and administration.
Capstone Advisors' continues to have a long term positive forecast for the Southern California residential market and is actively seeking other select home building partners that have demonstrated expertise in both their market area and proposed product type.
Capstone Advisors' current residential real estate investment partnerships in San Diego County and the Coachella Valley include: The Masters at PGA West, a collection of fairway estates in La Quinta, priced from $900,000 and CIELO, 23 custom homes in Rancho Santa Fe, priced from the low $2,000,000.
Capstone Advisors' management team includes: Alex Zikakis, president; John Trotter, vice president of acquisitions; and John Speirs, director of builder/developer relations. For more information about Capstone Advisors, call John Trotter or John Speirs at (858) 456-5600.
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