Passion for Housing

Photo of Percy Vaz

AMCAL CEO Percy Vaz is featured in the current edition of Affordable Housing Finance Magazine in an article titled “Passion for Housing.”

Brick by brick and town to town, the AMCAL group of companies does the hard work of building affordable and market-rate housing throughout California and Texas.

During its 40 years, the firm has developed more than 80 communities with 7,500 units and an equally impressive reputation for creating quality housing for families, seniors, and, more recently, college students.

Not bad for a company that Percival Vaz and his wife, Lux, began in their garage.

Armed with an entrepreneurial spirit, Vaz, the firm’s founder and CEO, emigrated to California from India in the mid-1960s to study electronics, earning bachelor’s and master’s degrees from the University of California at Los Angeles, with the idea of returning to his home country to open an electronics assembly plant.

This article originally appeared in Affordable Housing Finance Magazine. Read more of the article on that website.

Multifamily Executive Magazine Recognizes AMCAL CEO Percy Vaz with 2018 Executive of the Year Award

Lux and Percy Vaz at Multifamily Executive Magazine conference holding award

CEO Percy Vaz was awarded the 2018 Executive of the Year Award by Multifamily Executive Magazine on September 18, 2018, at the magazine’s annual conference in Las Vegas. Recognizing his wife Lux, who helped him start the company 40 years ago, Percy thanked her in his speech at the festive event along with the magazine for recognizing his company’s accomplishments. MFE Magazine published a special article about Percy, titled “Percival Vaz’s Passion for Housing Defines AMCAL’s Development Strategy.”

Read more about this award at Multifamily Executive Magazine.

Multi-Housing News “AMCAL Breaks Ground on Sacramento Student Housing”

Artist's rendering of The Crossings leasing center

By Jeffrey Steele

The 225-unit development is scheduled for completion in August of next year.
Sacramento, Calif.—AMCAL Equities LLC has closed financing and launched construction on a new student housing community serving California State University, Sacramento (CSUS) students. The 225-unit development is scheduled for completion in August of next year. Located just one-fifth of a mile from the university, it will deliver 750 beds, state-of-the-art amenities and pedestrian-friendly nearness to the CSUS campus.

The $75 million project on 9.2 acres has been funded by Agoura Hills, Calif.-based AMCAL, which used $22.5 million in equity investment funding from Irvine-based Anchor Real Estate Capital and a $50 million JPMorgan Chase construction loan.

“We believe there is adequate demand in the marketplace for a new student housing development with our building design, unit types, location and amenities,” AMCAL director of market rate and student housing Stephen Clarke told MHN.

Continue Reading Multi-Housing News “AMCAL Breaks Ground on Sacramento Student Housing”