SCOTTSDALE, Ariz.--(BUSINESS WIRE)--DPG INVESTMENTS, LLC, Vintage Pacific and affiliates successfully closed a funding that establishes a joint venture with the general partner, Coast Range Investments, LLC, of San Francisco, Calif., for the development of XS Ranch, a 9,600-acre property located 20 minutes from Austin-Bergstrom International Airport. Strategically located within the path of growth in Austin, the property is fully entitled for 7,050 premium residential lots with all government and environmental permits in place. Development value of this property is estimated at about $800 million.
According to Dan Galvanoni, Chairman of DPG Investments, “DPG, Vintage Pacific and our affiliated investors believe in the growth potential of the Austin market as represented in our groups’ commitment. Vintage Pacific and affiliates are world-class investors and operators with significant track records rooted in land development. This venture includes both a best-in-class property along with best-in-class operating and capital partners.” Vintage Pacific, which will join Coast Range Investments in the management/development of XS Ranch, has completed some of the West’s best known master planned communities, ranging in size from 200- to 3,000-home communities; and has constructed more than 10,000 homes in the Southern California market.
Jim Foster, Founding Partner of Coast Range Investments, said, “We are committed to a long-term partnership with DPG Investments and Vintage Pacific. We’re also committed to Dan Galvanoni and Matt Osgood who consistently demonstrate creative funding solutions and operational experience.”
Throughout 2012, DPG has played a critical role in structuring creative financing solutions for difficult-to-finance and complicated transactions totaling in excess of $300 million of private capital. DPG’s core strategies include private lending, discounted debt repurchase, mezzanine tranches, structured participations and preferred equity investing.
As a private transaction, the amount of the funding is not being disclosed.
DPG Investments and affiliates provide global alternative investment management and advisory services. With offices in Arizona, California and Georgia, DPG specializes in the allocation of capital across various asset classes on behalf of its select ultra-high net worth family offices and institutional private equity managers. DPG's current focus in the alternative investment sector includes real estate lending and acquisition, renewable energy and natural resources, corporate private equity, asset management, fund-to-fund advisory and venture capital. Through its solid platform and disciplined approach, DPG maintains a predominant foothold in the capital markets, trafficking significant and high quality opportunities on a consistent basis.
Currently, DPG works principally and in conjunction with its numerous domestic and international capital partners, which service a diverse scope of transactions on a co-investment and allocation basis. These partners include hedge funds, REITS, equity portfolios, private merchant banks, pension funds and life insurance companies. DPG maintains a strong focus on ultra-high net worth family office partnerships throughout the U.S., Asia, Latin America and Europe.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements.