AMCAL made the list of the top 50 developers of affordable housing as determined by Affordable Housing Finance (AHF) Magazine, keeping good company with other developers “who kept the shovels turning despite rising development costs and other challenges in 2019,” according to Donna Kimura, Deputy Editor of AHF Magazine. This is the second year in a row that AMCAL ranked #15.
This article originally appeared in Affordable Housing Finance Magazine. Visit that news site to read more.
AMCAL was just ranked 18th on the list of top development firms by Commercial Property Executive and Multi-Housing News.
Since 1978, the AMCAL Group of Companies have developed more than $2.5 billion in high-quality multifamily housing projects consisting of more than 7,000 units throughout California, Texas and Washington. AMCAL has been consistently recognized for its solid financial performance and strong, conservative balance sheet which has enabled it to partner with some of the world’s leading financial institutions including Barings Multifamily Capital, Bank of America, JPMorgan, Comerica, Star America, Anchor Capital and many others.
This article originally appeared in Affordable Housing Finance Magazine. Visit that news website to see the article.
In October 2019, AMCAL was named by the Los Angeles Business Journal as one of LA’s Most Influential Family Owned Businesses. Here is part of the story. Read the rest at the link below.
Originally emigrating from India, Percival Vaz earned electronics and business degrees from UCLA, but found his early career choice in technology left him uninspired. After buying the first home for his growing family, Vaz got the real estate bug and started AMCAL in 1978 with his wife, Lux, in their garage as budding entrepreneurs.
Vaz has led the company’s growth from a single-family home investor to a premier multi-state developer of student, affordable and luxury apartment communities representing more than 80 developments and 7,000 units valued at $1.5 billion – with $2.5 billion more product in development or under construction.
This article originally appeared in the Los Angeles Business Journal. Visit that news site to read more.