Mountain Real Estate Capital Acquires 267-Lot Project with Classic Homes of Colorado Springs

Torrance, CA – October 10, 2011 – (RealEstateRama) — Mountain Real Estate Capital (MREC) (www.mountainrecapital.com) announces the closing of a new investment with Classic Homes of Colorado Springs to develop Promontory Pointe, a 267-lot community located in Monument, Colo. The transaction represents MREC’s first investment in the Colorado Springs housing market. The terms of the deal were not disclosed.