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SOURCE MKA Capital Group Advisors LLC
NEWPORT BEACH, Calif., March 1, 2013 /PRNewswire/ -- Tesoro, which means "treasure" in Spanish, is a planned single-family detached residential development consisting of 107 home sites located south of East Palm Canyon Drive in Cathedral City, CA. The Tesoro project subdivision entitlement has been processed over the last several years by George Baker, President of DEVCO Builders LLC, located in Newport Beach, CA. The new eclectic and exciting Tesoro Development will be a private-gated community featuring a 150 foot expansion bridge entrance with common area facilities such as a pool, clubhouse, family parks and barbecue areas that will enhance this project. The property encompasses approximately 16 acres which back up to the base of the San Jacinto Mountains in the Coachella Valley, in Riverside County, CA. The initial phase consists of 22 homes, which consists of 4 models and 18 production houses. The building lots are fully entitled and a final map of the project is ready to be recorded with the municipality of Cathedral City, CA. The homes in the project will range in size from 1,545 to 1,966 sq. ft. with pricing from $339,000 to $409,000. This project is positioned to compete with the current REO and foreclosure properties in the surrounding area. The Coachella Valley area appeals both to those that will reside in the area full-time, as well as those that come in from other parts of Northern and Southern California, Canada and the Western United States for their weekend getaways and the six month winter season each year.
MKA Capital Group Advisors is a real estate advisor, management and development company headed by Jason Sugarman in Investments and George Baker in Real Estate Development Projects, Construction, Asset Management, Leasing and Brokerage. MKA manages funds for Institutional Investors. They are based in Newport Beach. Since 2002, the company has been involved in developments throughout the entire Western United States including California, Hawaii, Colorado, Utah, Oregon, Arizona, Nevada, Texas, Florida and Washington. The company has also been the developer or lead investor in over 100 real estate developments totaling over $3 billion in development value. MKA Advisors has done business with top developers as well as small to medium sized real estate development firms.
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