Partnership

Partnership formed for 9,600-acre master plan community in Austin

DPG Investments, Vintage Pacific and affiliates have established a joint venture with the general partner, Coast Range Investments, 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 USD800m.

Dan Galvanoni, chairman of DPG Investments, says: “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, says: “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 totalling in excess of USD300m of private capital. DPG’s core strategies include private lending, discounted debt repurchase, mezzanine tranches, structured participations and preferred equity investing.

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