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North American Acquisitions Optimizes Its Presence In Arizona
NAC Accelerates Its Activity Within Distressed Arizona Market.
January 24th, 2010 - After having an absence of one and a half years in the greater Phoenix/Tuscan area, North American Companies Inc. "NAC", which is a private holding company, has decided to re-integrate itself with the distressed Arizona real estate market. After it's holdings had been liquidated in 2008, NAC has come back with intentions of completely turning the market around. North American Acquisitions "NAA" which is a subsidiary of NAC, led by Michael Llamas, will head new projects and finish existing projects in the greater Phoenix and Tucson areas. Mr. Llamas states, "We look forward to getting back involved in the market in the most significant way possible". NAC first got involved in the Arizona market back in 2004 and finished its term in 2008 in the midst of the 2007-2009 real estate crash. The housing bubble burst occurred June 2007, and the state continued to grow its budget for the next 3 years as if nothing ever happened. During their presence, NAA and subsidiaries had successfully completed in excess of 2000 units in the Arizona Market.
North American Acquisitions will increase their local presence by opening up an office in the Scottsdale area and gaining local insight by hiring 7 new full time team members, each with a separate area of expertise in the greater Phoenix area. The new office will be managed by 30 year veteran of the real estate business, Mr. Pete Castellucci. The Team will be focused on distressed real estate which will include purchasing performing and non performing paper of commercial or residential, single family homes, multi-family projects,trustee sales, short sales, and condominiums new construction and conversion. They also will be acquiring partially completed construction projects, land, development projects, and will be at acquiring regional development companies the State of Arizona.
NAA plans on investing much capital and effort into this venture with strong intentions of completing at least 2-3000 units within the next 12-18 months. Mr. Llamas states, "Due to our past successes in the area, we are in a position to handle at least that that many units, we have exceptional human capital".
Media Contacts:
North American Acquisitions, LLC, is headquartered at:
425 Market Street, 22nd Floor
San Francisco, California 94105
Telephone: 1-877-80-NAACO
For more information, please email: media@NorthAmeriCompanies.com
For all business proposals, please email: proposal@NorthAmericompanies.com