PICR Fund III, LP is the third fund managed by Pintar Investment Company, LLC. The Fund is registered with the SEC as a 506C Offering with Reg D exemption. The Fund invests in single family homes, providing accredited investors reliable and consistent cash-on-cash returns through income generated from rental assets and profits generated from the disposition of selected assets. The Fund’s management team is highly invested alongside all the existing and future investors, providing an alignment of interest not normally seen in private placement offerings. In addition, the Fund’s management team does not earn any asset management fees until the Fund’s investors earn at least a 6% annual return.
Closed Offerings and Previous Partnerships
Founded in 2010, PICR, LP was PIC’s first investment vehicle for which we acted as the principal. PICR’s focus was primarily on fix and flip single family homes.
Founded in 2012, Dhandho, LP was PIC’s second investment vehicle for which we acted as the principal. Dhandho’s focus was on buy and hold single family homes.
With over $30 billion of assets under management, Colony Capital, Inc. is a leading global real estate and investment management firm headquartered in Los Angeles, CA. In late 2012, Colony formed an investment company with Pintar Investment Company on its investment strategy of acquiring existing single family homes for rent in California and Las Vegas. The partnership eventually invested over $300M and subsequently renovated, leased and managed nearly 2,000 homes with an exit value in excess of $500M delivering over $100M in profits in two years’ time. CAH eventually invested over $5 billion in single family homes and recently merged its operations with Starwood Capitals (SWAY) to form the second largest publicly traded REIT with a focus on single family homes.
Initially backed by Goldman Sachs, Progress Residential has acquired over 17,000 single family rental homes throughout the United States. PIC formed a partnership with Progress and acted as their local operating partner for the State of California.
Beazer Homes USA, Inc. formed a partnership with KKR to invest in existing single family homes. Pintar Investment Company acted as their local operating partner in California and Nevada markets overseeing all facets of acquisition, redevelopment and property management activities. The partnership ultimately invested well over $50M and delivered in excess of $15M in profits with an eventual sale to American Homes for Rent.