Proven Team Of Real Estate Professionals Creates New Firm
An experienced team of real estate professionals today announced the formation of Compass Real Estate Capital, an investment firm that buys, renovates and sells distressed residential properties.
Compass Real Estate Capital is lead by Bob Pabian, Executive Managing Director and Chief Denney, Executive Managing Director. Compass principals have been involved in more than 1,400 real estate projects across the U.S. totaling $240 million. Compass has offices in San Diego and Gulf Breeze, Florida.
"Compass Real Estate Capital was created by real estate professionals who have been very successful investing in foreclosed and distressed assets," Pabian said. "Compass Real Estate Capital understands how to identify, renovate and quickly sell properties. In the process, we're helping revitalize communities by injecting new capital and energy into local neighborhoods."
Over the past two years, Compass principals have purchased 67 homes, with a cash-on-cash return of 50.7% annualized. Compass invests primarily in single-family homes priced between $175,000 and $400,000. The firm works with local contractors to make interior and exterior improvements to the acquired properties.
"Compass principals have developed a winning formula over the past 30 years, in both up and down markets," Denney said. "We buy distressed homes at 25% to 40% below comparable properties and make quality renovations to bring those homes in line with prevailing market prices. We then sell the homes within months of purchasing the property. This approach minimizes risk and maximizes the sale proceeds."
Compass is currently focused on San Diego, where prices are leveling out and there is a large inventory of distressed properties.
"We like San Diego because prices are stabilizing or appreciating in certain neighborhoods," Denney said. "Compass has extensive knowledge of the region, and we believe there is a large inventory of affordable properties that can be improved and sold to a large pool of first-time and trade-up buyers."
About Compass Real Estate Capital
Compass Real Estate Capital, LLC is a real estate investment firm that specializes in buying, renovating and selling distressed residential real estate, primarily single-family homes. The firm's two principals, Chief Denney and Bob Pabian, have been involved in 1,400 real estate transactions totaling $240 million. For more information, visit www.compassrealestatecapital.com, or call 850.932.2436.
Contacts:
Blue
Marlin Partners
Greg Berardi, 415-239-7826
greg@bluemarlinpartners.com
