Concentrating on transitional, middle-market real estate investment opportunities, PCCP draws on two decades of experience in providing real estate investment management. Over the years, the firm has managed more than $16 billion in real estate capital and maintains offices in San Francisco, Los Angeles, and New York. PCCP has leveraged the experience through the uneven recovery of the market through the Global Financial Crisis (“GFC”) to identify market opportunities in overlooked real estate markets and asset classes.
As reported recently by Zillow, the US housing market has succeeded in gaining back $9 trillion in lost value following the 2007 market collapse during the GFC. This recovery has been led by many of the largest housing markets nationwide, with the average US home holding a value of $55,200 more than values during the low point of the recession.
However, this growth is characterized as uneven, with growth on the west coast far outpacing “Sand State” regions such as Las Vegas. For example, residential prices in San Jose, California - driven by limited housing stocks and barriers to new construction - have increased by an average of $615,100, which is three times the average amount of $190,000 that was lost.
By contrast, Las Vegas, which also saw average housing prices drop by $190,000, has only witnessed a gain of $131,000 in the average home value. This example points to potential growth opportunities in regions that have still not fully recovered from the GFC.
To learn more about PCCP and its real estate investment activities, visit pccpllc.com.
