Brian Rucker
San Diego, CA (USA)
Role(s):
Founder/Owner/Principal
Perenia Capital, LLC
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Startup
Location:
San Diego
Industry:
Real Estate
Year Founded:
1996
Number Employees:
1-10 people
Description:
We're a land development firm focused primarily on California. In the market of the last two years, our business has expanded to the purchasing of finished lots, partially entitled properties, and even JV-ing with builders to re-structure and work through existing deals. We have been working with several banks that are evaluating and working out dispositions of land assets. We pride ourselves as a firm with deep experience in both the financial and development side of real estate. We are selective about our asset acquisitions, but at the same time, with our background we can be creative in our deal structures and the managing of an asset. We are seeking an investor/partner to create a fund of $25M in equity for the purchase of 7-10 prime assets for a 3-5 hold. Our goal is to return our investor an IRR of approximately 20%. Our optimal deal size has an equity requirement from $3m - $5m, which falls below the radar of the larger competing funds in our space.