Houston-Based Coastal Horizon Seeks to Expand Burgeoning Real Estate Portfolio in the Bayou City, Focusing on Diamond in the Rough Properties and Builder Partnerships
HOUSTON, May 11, 2011 /PRNewswire/ -- Formed nearly a year ago, well-capitalized, private equity group Coastal Horizon has been investing millions of dollars in Houston's future and betting on one of the Bayou City's biggest assets: a well of premium, but underperforming, property priced well below comparable offerings in other major US markets. The subsidiary of Centralized Real Estate Services (C.R.E.S.) has quietly been acquiring or taking an interest in a number of distressed holdings, primarily in the luxury residential sector with million dollar plus price tags, and either stockpiling the properties or utilizing C.R.E.S. resources to market them, once they have been prepared for sale.
Working under the assumption that there is no better time to buy in Greater Houston, where the economy has remained relatively stable throughout the country's economic woes, and real estate continues to see modest gains thanks to prices that in relation to other markets have never spiked, the eclectic group of equity partners is now seeking to accelerate the accumulation of assets while further diversifying their portfolio. With cash in hand and the means and desire to facilitate quick closings, Coastal Horizon is now targeting residential lots and land, luxury homes, condo developments, Class B and C multifamily plus retail. In addition to acquiring real estate assets, Coastal Horizon also provides mezzanine financing, hard money loans and land/lot banking for builders and developers.
According to Jacob Sudhoff, principal of Houston-based Sudhoff Properties, who oversees purchases and resale for Coastal Horizon, "This is a savvy and dynamic group of local and international investors who are very bullish on Houston. While we are primarily interested in creative financing for underperforming assets, we also have the ability to work with owners and borrowers tied to distressed properties. If the trajectory of the property can be improved via an equity infusion or buying the debt from the bank at a discount, we can help."
For more information about Coastal Horizon, call 832.320.2004 or email firstname.lastname@example.org.
SOURCE Sudhoff Properties