Robert Castro
La Quinta, CA (USA)
Role(s):
Founder/Owner/Principal
ARRIS PROPERTIES INVESTMENTS
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Startup
Location:
La Quinta
Industry:
Real Estate
Year Founded:
2014
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
Sole Proprietorship
Description:
Arris Properties Investments is involved in Land Development Entitlement of vacant land. The business model is to option vacant land and entitle the property to Final Map shovel ready status for sale primarily to public home builders and multifamily builders. In the alternative where land is already zoned for the contemplated use, the property may be purchased at the inception of the venture depending upon the risk/return level desired by the limited partner. The primary areas of endeavor are the Central Coast of California & Southern California.
The primary type of land development entitlement targeted for exploitation is vacant land suitable for Single Family Residential (SFR) & Multi-Family (MF) projects, in markets with high demand/absorption demographic metrics. The exit for investment capital is sale to third party merchant builders or a second stage limited partnership for build-out & rent-up stabilization of the project. Organization of Private Placement Memorandums (PPM) to solicit capitalization of 2nd stage partnerships is incorporated in the entitlement budget. The capital derived from the PPM will be used to cash out the land development entitlement partnership and to move forward with the build out of the project to develop rental housing (either MF or SFR). Some of the MF projects will be located in Opportunity Zones that add an income tax shelter opportunity to some qualified investors with passive income. The target investor for the land development entitlement is a qualified high net worth individual. The target investor for stage 2 build-out & stabilized rental housing is primarily institutional investors.
Funding by an investor will be based upon committed capital structure with six (6) month capital calls (draw downs) , based upon a cash flow budget. Investors will be required to fund six (6) months of budgeted expenses every six (6) months until sale of the property. We are offering a 15% preferred return on capital invested and at least a 100% Return on Investment (ROI). The typical time frame to Final Map Sale is 24-36 Months.
Team has a combined 70+ years in real estate development & entitlement experience, providing clientele with superior craftsmanship, knowledgeable expertise, exceptional quality and unparalleled value. Our land entitlement expertise brings an incredible wealth of knowledge that covers the entire lifecycle of the project. Every development project selected goes through an extensive due diligence process to ensure the creation of optimal value, while assessing and limiting downside risk