Houston-based Newmark Homes is returning to the Austin market and has tapped veteran home builder Shay Brinkley as president of its Austin division.
“Shay brings an extraordinary amount of experience to Newmark,” Mike Moody, chairman and CEO of Newmark Homes, said in an announcement. “We worked together at Newmark in the 1990s through the mid-2000’s and during that time, I gained a great deal of respect for his ability to build teams. We are very excited to be reuniting with Shay.” Newmark Homes built in the Austin area for more than two decades before ceasing operations in 2009 when the company transitioned from being owned by a public company to a private firm based in Houston. “We have focused our efforts in Houston over the past decade with great success and believe the timing is right for our return to Austin,” Moody said. Newmark will open model homes this month in two communities in the northwest Austin area. Homes designed by Austin-based Kipp Flores Architects in Lakeway’s Rough Hollow community on 55-, 63- and 78-foot wide lots will start in the mid $400,000s. In Austin’s Provence community, also in Lake Travis ISD, Newmark will sell homes on 50- and 65-foot wide lots from the mid $300,000 to the $500,000s. Newmark has a sales goal of 400 homes in the Houston market in 2020. The company said it expected to set sales goal for Austin in the next few months after working through the initial stages of ramping up their programs in the region. Newmark, which currently builds in nine communities in the Houston area, sold 410 homes in 2019, up 6 percent from 2018. Reported by The Houston Chronicle (Feb. 20, 2020) For complete contact information for Century Communities, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database.
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Diversification runs strong throughout the homebuilding and real estate market as 2020 gets underway. PulteGroup, Inc., has acquired Innovative Construction Group (ICG), a leading off-site solutions provider focused on single family and multifamily wood framed construction. CBH Homes has launched a new rental division known as CBH Rentals. Meanwhile, commercial real estate broker Cushman & Wakefield entered into a definitive agreement to acquire Pinnacle Property Management Services, LLC, the third-largest multifamily property management firm in the U.S.
Based in Jacksonville, Fla., ICG’s comprehensive framing solutions include design services, manufactured wall panels, roof trusses and floor systems, and on-site installation to provide a full frame shell construction process. ICG will remain a stand-alone operation and continue serving its existing customer base and builder clients. The acquisition of ICG builds on PulteGroup’s unique commonly managed plan platform and its long-term strategy to drive greater production efficiency and overall build quality. Off-site solutions can deliver high quality framing components with less waste and help address trade labor shortages that are a persistent problem for the construction industry. "We are extremely impressed with ICG’s management team and automated plant operations, and look forward to working with the company’s founders, who will continue to lead the organization," said Ryan Marshall, President and CEO of PulteGroup. "As we capitalize on ICG’s existing products and services, we expect to expand the factory’s production capabilities to provide additional products and services to ICG’s customers." "In acquiring ICG, we see the potential for our Jacksonville operations to benefit through faster cycle times, precision structural components and savings on lumber and other materials," added Marshall. "ICG can also serve as a model to intelligently integrate the use of off-site production with our existing trade partners." "Over the last decade, we have continuously developed and refined our fully integrated off-site model to service single family and multifamily customers," said Ryan Melin, co-Founder and President of ICG. "We are excited to partner with PulteGroup and leverage our shared passion for innovation to offer a broader range of services and capabilities to all of our customers." CBH Adds Rental Arm Corey Barton Homes got the rental concept off the ground quietly last fall, with the release of 11 newly-built homes made available as rentals. The Victory South development sits off Eagle Rd. in Meridian near Victory Rd. The company said the homes leased up within two weeks. Another batch of 11 homes will hit the market later this month. A second project -an apartment complex off Franklin Rd. near Linder Rd. in Meridian will start leasing up next month. That project, branded as 12 Oaks at Ten Mile, includes 106 apartment units. CBH included higher-end touches like granite, stainless steel appliances and vinyl plank flooring in the apartments. The first 32 units will come on the market in March. The company says it has three additional rental projects in the works, and will offer options in Meridian, Kuna, and Nampa. It currently looks to build out more than 2,300 rental units. “CBH wants to do what’s best for their customers no matter what stage in life or living situation they are (in), CBH Homes President Ronda Conger said. “Whether you are needing to rent or are ready to buy a new home. We are here for you and ready to make your dreams a reality.” CBH will also offer a “lease to buy” program, where a portion of monthly rent can go toward a down payment on a home purchase. Property Records show Open Door Rentals LLC owns the properties, a separate entity which lists CBH president Corey Barton as owner. CBH is one of Idaho's largest builders with 55 communities in the Treasure Valley with available homes. Cushman & Wakefield Buys into Multifamily Management The acquisition of Pinnacle will establish a foothold for Cushman & Wakefield across 20 key U.S. multifamily markets and will significantly enhance the firm’s ability to meet the ever-growing demand for fully integrated real estate services from multifamily investors. Pinnacle manages more than 169,000 units across 839 properties for a variety of top multifamily owners including institutional, private and foreign investors; financial institutions; pension funds; private partnerships; sole owners; and government housing groups. “The acquisition of Pinnacle will greatly enhance our ability to provide a full complement of services to the many investors active in the multifamily space,” said Carlo Barel di Sant’Albano, Chief Executive of Global Capital Markets & Investor Services for Cushman & Wakefield. “Pinnacle is a proven industry leader with the specialized expert knowledge to help us seamlessly execute our clients’ multifamily investment strategies through the entire investment life cycle.” “We are thrilled to soon join Cushman & Wakefield, one of the world’s most admired commercial real estate brands, which shares our client-centric focus and commitment to service excellence,” said Rick Graf, President & CEO of Pinnacle, who will lead the Americas Multifamily Property Management platform for Cushman & Wakefield. “Cushman & Wakefield’s scale, depth of resources and exceptional people will add tremendous value for our current and future clients.” With the acquisition, Cushman & Wakefield will manage a total of more than 869 million square feet for its investor clients across the Americas. “This acquisition is a monumental step for Cushman & Wakefield and our Asset Services platform as we expand our capabilities in an asset class that presents incredible future growth opportunities,” said Marla Maloney, President of Asset Services, Americas. “With a strong reputation for service and cultivating high-performing talent, we are confident that Rick and the Pinnacle team will continue that tradition of excellence as part of Cushman & Wakefield.” National Builders Directory Tracks 9000+ Moves & Changes Among Top Builders over 12-month period2/13/2020 Mission Viejo, Calif. -- Top-level personnel changes in the homebuilding industry continue to occur at a rapid clip. That’s the overwhelming conclusion based on an analysis of the contact changes tracked by the The National Builders Directory over the past year. Professional Business Publications, Inc., (PBP), which publishes the directory, has just completed another comprehensive update, undertaken over the past three months.
PBP has released its completely updated 2020 National Builders Directory with detailed contact listings for more builders than ever before. The new directory provides detailed high-level contact information for all offices (Corporate, Regional and Division) of more than 300 leading homebuilders in the U.S. At release, Total Decision-Maker contacts now total 12,766, up from 11,177 a year ago. During the three-month update, more than 1,000 contacts were added while about 500 were removed. There were changes recorded in another 1,000+ contacts in the directory. Overall, during the past 12 months 3,700 new contacts were added to the directory, while 2,100+ contacts were removed from the homebuilder database. In addition, there were an unprecedented number of changes to other contacts and information, with that number topping 4,100. These changes include moves from one company to another, promotions within a company to a new position or department, people moving from one division to another, changes resulting from mergers & acquisitions, and other changes. Comprehensive analysis of updates to our Directory of Multifamily Builders & Developers and our Directory of Architects & Engineers are in progress and early analysis shows similar levels of activity. The bottom line is the industry continues to change, evolve and expand on a daily basis, and movement by top decision makers from one company to another as well as to new leadership roles within their existing companies is an ongoing trend. In response to these changes, PBP has increased its research staff to track these changes and help our subscriber/members keep up with movement in the market. In addition, we’re now in the process of adding more than 20 builders to The National Builders Directory and 15 additional Builders & Developers to our Multifamily Directory. For more information about the directory service contact PBP at 949-347-2564 or visit us at www.probizpublications.com In a bid to expand its range of geographies, product lines and price points, Toll Brothers, Inc. acquired Thrive Residential. With the acquisition, the company expanded its footprint in the dynamic markets of Nashville and Atlanta — with favorable demographics and strong population growth. However, the terms of the deal have been kept under wraps.
Thrive offers diverse product lines to urban in-fill locations. Hence, this acquisition will enable it to continue the expansion of its operations in the dynamic Southeast. Toll Brothers’ recent acquisitions have been Sabal Homes in South Carolina and Sharp Residential in Atlanta. Benefits of Thrive Buyout Founded in 2006, Thrive Residential has delivered more than 1,000 homes across the Southeast market — since its inception. It primarily focuses on building mid- to high-end residences as well as designing communities that are unique to various homeowner lifestyles and the neighborhoods in which they are located. It has approximately more than $200 million in active projects in its development pipeline. With this buyout, Toll Brothers acquired certain homebuilding assets — including 680 lots owned and controlled throughout Atlanta as well as Nashville. Notably, the acquisition is expected to add 10 selling communities by the end of fiscal 2020. Toll Brothers has secured some of the most sought-after urban locations in the country, where land is scarce and approvals are not easy to obtain. With the help of its strong liquidity position, the company has secured most sought-after urban locations like New York City Market, Northern New Jersey, Washington DC and Philadelphia. In 2019, Toll Brothers entered markets in Atlanta, Salt Lake City and Portland, OR. It is expanding northward on Florida's west coast into Tampa. Meanwhile, the company has been serving urban and suburban renters. Also, owing to favorable housing market fundamentals, Toll Brothers has witnessed a rise in consumer demand that drove new orders. In the fourth quarter of fiscal 2019, its net signed contracts or orders were 2,031 units ($1.68 billion), up 18.4% year over year. As of fourth-quarter fiscal 2019, through Toll Brothers Apartment Living, it had a pipeline of 20,000 units in various stages of approval and development across the country. With improving demographics, low interest rates, record low unemployment, consistent wage growth as well as limited new and resale inventory in many markets, the company is optimistic about the opportunities that lie ahead. Reported by Zacks Equity Research (February 14, 2020) For complete contact information for Toll Brothers, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database. Century Communities buys 400 acres to become new master plan developer at las vegas' skye canyon2/5/2020 Homebuilder Century Communities has taken over as the master plan developer of Skye Canyon in northwest Las Vegas by acquiring the remaining 400 acres for development not already assigned to builders. The price was $59.1 million.
The deal that closed in mid-January between Century Communities and New York-based investment group Stonehill Capital and Spectrum Management Group means Century takes over from the Olympia Cos., which served as Stonehill’s master plan developer for the community that ranked No. 19 in the nation in 2018 in terms of home sales. Olympia will work with Century Communities on homeowners association management and a cooperative advertising program. Century will take over responsibility for finishing infrastructure that includes roads, sewer systems, water lines, 89 acres of parks and open space along with providing land for schools. The 400 acres will have 15 acres of commercial development, 13 acres of apartment development and 283 acres of residential development with 2,200 units that include single family and attached. Skye Canyon has a buildout of about 4,000 homes. Century has already sold 48 acres of that 400 to Toll Brothers for $20.8 million and is considering selling other land to builders. “The reason we did it was for the residential units,” said Robb Beville, division president Nevada for Century Communities, on the acquisition. “We really believe in Skye Canyon and like that project. We’re just securing our land position in that area for the future. We’re very bullish on the Las Vegas market and particularly Skye Canyon. We’ve had good success out there in the first and second phase (with our 77 acres). We’re just going to continue our platform.” Beville said it will be a five-year buildout for the remaining site, and Century Communities will have homes ready by the first quarter of 2021. He said homes will start around $300,000 and the most expensive homes in that section from Toll Brothers will be around $500,000. Stonehill, which partnered with Olympia and Spectrum Management Group, acquired the 1,712-acre Skye Canyon from Wachovia Bank. The bank foreclosed on the property in 2008 from the original consortium led by Focus Property Group and builders that bought the land from the Bureau of Land Management for $150 million in 2005. Skye Canyon, which opened in 2016 and recorded 323 sales in its first full year in 2017, rose two spots to reach 19th in the nation in 2019. It had 538 sales, a gain of 13 percent over the 478 sales in 2018. Other builders at Skye Canyon include Beazer Homes, Lennar Homes, Pardee Homes, Pulte Homes, Richmond American and Woodside Homes. Chris Armstrong, a senior vice president at Olympia, said Century Communities “has done something similar” at Rhodes Ranch and Tuscany in Henderson where it finished out developments. It will be a “seamless transition and homeowners won’t notice a difference,” he said. “I want to give kudos to Olympia,” Beville said. “They are the ones who had the design and this concept at Skye and did an excellent job of it. It’s mainly already set. They designed it out so far in advance that we’re just doing the physical installation work. Most of the design work is complete.” Beville said they sent a letter to residents a couple of weeks ago letting them know of the acquisition and how they would maintain the site and that there would be no change in the property management company. Olympia confirmed the deal by releasing a press statement in which it announced the “transition of the leadership role at the Skye Canyon Community Association to Century Communities.” It cited how Olympia and Century have been “proud partners in the growth of the community” since the first phase of development. “This change signifies an exciting move from the land use and planning stages to the final development stage of this award-winning community,” the statement said. “Century has a proven track record of success in working with land development teams in similar transitions, and Olympia will continue to participate in the community as a vital partner.” The Olympia team will retain its management role in the operation of the Skye Canyon Fitness Center and Campus, the homeowner association, and the marketing cooperative, the release confirmed. “We have great confidence that Century will take our vision of building the next-generation master-planned community and enhance it with their excellent home offerings while maintaining the integrity, design and spirit of Skye Canyon,” said Garry Goett, chairman and CEO of Olympia Cos. Goett said he is proud of the success his company has had with Skye Canyon and Southern Highlands — two of what he called the premier master plans in Las Vegas — and the role Olympia will continue to play in Southern Nevada. “We have significant land holdings in the northwest part of the valley that are dedicated for future quality residential and master-planned communities,” Goett said. “ While Skye Canyon was made up of 1,700 acres, the owners sold more than 600 acres to Lennar, Shea Homes and other builders on the east side that’s now called Sun Stone and will have about 3,000 homes combined. Shea will build an age-qualified community with 1,000 homes. Olympia doubled down by purchasing 270 acres west of the Providence master plan in Las Vegas at a federal land auction in August, and will close later this month. It plans to build about 1,600 homes similar to what is in Providence with single-family homes within the next couple of years after infrastructure is completed. In addition, Olympia won out in a city of Las Vegas process for developing about 940 acres north of Sunstone that could surpass 5,000 homes. That is three years away and is expected to include various products. “We have a number of other projects we are continuing in our development in the northwest portion of town,” Armstrong said. “It frees up some capacity for us. We continue to be bullish about that whole area.” The population growth in northwest Las Vegas city limits is up 12 percent between 2014 and 2018 and housing units are 10 percent higher in that period, according to the city of Las Vegas. Reported by Las Vegas Review Journal (February 14, 2020) For complete contact information for Century Communities, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database. M.D.C. Holdings, Inc., parent company to the Richmond American Homes, has made changes to its leadership team at the regional home building operations level.
Jack Gallagher has been promoted to regional president of Richmond American Homes, overseeing home building operations in the Mid-Atlantic region and Florida. Gallagher joined the company in 2004 and has held a variety of leadership roles across multiple markets, including division president for the Mid-Atlantic region since 2015. Gallagher is a graduate of Duke University with undergraduate and graduate degrees in mechanical engineering and engineering management. David Viger, who has served as a regional president for Richmond American Homes since 2015, will now oversee home building operations in Arizona, Utah and Northern California. Viger joined the Company in 2004 and, prior to his promotion to regional president, served as division president for several different markets across the country. Viger earned his undergraduate degree from the U.S. Naval Academy and achieved the rank of Lieutenant before retiring from the U.S. Navy. Upon completion of his military service, he signed as an unrestricted free agent with the New York Jets and spent five years in the NFL. "I am excited to have David and Jack in our regional leadership positions. Given their long tenure at Richmond American Homes, I am confident in their leadership and management abilities, which will help us continue to drive growth and strong risk-adjusted returns for the company," said President and Chief Operating Officer David Mandarich. For complete contact information for Richmond American Homes, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database. |
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