James Prendamano, founder and CEO of PreReal Investments, discussed his firm's decision to invest in Elephant Butte, New Mexico, during a recent interview on ESPN 101.7 "The Team." He said that the choice was influenced by the area's natural and economic assets.
"We saw a county that had some incredible assets, Spaceport, the copper mine. These were markets that we felt really strongly were going to grow exponentially as we headed into this year and over the next 10 years with space exploration," said Prendamano, Founder & CEO. "This is what happens when you invest dollars into people instead of just places, and you build a bit of hope. We looked in a lot of places. There was going to be a strong shift back to these types of locations. Streaming is just a part of the future, and the future is now."
According to Prendamano, the decision to invest in Elephant Butte was driven by a desire to transcend traditional real estate projects. After years of developing properties in New York and the eastern United States, he and his team aimed to make a deeper impact on communities. They observed a trend towards decentralization following COVID-19, as people sought destinations away from crowded urban centers. Their search led them across the country, but Elephant Butte stood out due to its natural beauty, unique assets, and growth potential. By combining vision with meaningful local partnerships, PreReal intended to create more than just structures—they wanted to foster hope and opportunity.
Elephant Butte and Sierra County offer an impressive array of natural and industrial resources that attracted PreReal's attention. The area is renowned for its scenic landscapes, including Turtle Back Mountain, hot springs, fishing, hunting, hiking, and stargazing—appealing attractions for both residents and visitors. Beyond these natural features, the county benefits from strategic industries like the Spaceport and local copper mining operations. With the global space exploration market projected to triple and increasing demand for raw materials in emerging technologies such as artificial intelligence (AI), robotics, and quantum computing, Sierra County is positioned for long-term growth.
A significant highlight for the area has been Turtle Back Mountain Golf & Resort hosting the New Mexico Open for the first time. The tournament featured a $100,000 purse and attracted over 140 golfers, including notable names like Notah Begay III and Kent Jones. This event demonstrated both local community support and PreReal's commitment to enhancing the facility. Extensive efforts were made to restore and modernize the course by addressing deferred maintenance issues and introducing GPS-enabled carts while reopening the driving range. The tournament also embraced modern engagement by streaming live on multiple platforms.
PreReal's success in Elephant Butte has been bolstered by strong support from the local community. Leaders such as Phil Mortensen, mayor of Elephant Butte; state officials including the governor; and lieutenant governor have all endorsed revitalization efforts. The project is viewed not merely as a business investment but as a symbol of hope and progress for Sierra County. Prendamano emphasized that investing in people rather than just places was crucial for building trust and momentum. The company even plans to relocate many of its assets—and possibly themselves—to the region as part of their long-term commitment.
This article includes excerpts from an interview conducted on "TEAM Talk" with Joe O'Neill, Adam Diehl, and Andres Chavez."TEAM Talk" airs Monday through Friday between 4 p.m.-7 p.m. on ESPN Radio 101.7 The TEAM.
