Mission Viejo, Calif. -- Top-level personnel changes in home building and apartment development continue to occur at a rapid clip. That’s the overwhelming conclusion based on a look at the contact changes tracked by the The National Builders Directory and The Directory of Multifamily Builders & Developers over the past year. Leading home builders continued to grow and expand in 2020, collectively adding 43 new division office locations. Decision-maker contacts now total 13,682, up from 12,766 a year ago. More than 2,300 contacts were added to the directory in the past year while more than 1,700 were removed from the homebuilder database (people leaving the industry or going to non-builder firms). Some 700 moved within the builders covered, while there were changes recorded in another 6,700 contacts in the directory. These changes include 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. The Directory of Multifamily Builders & Developers saw similar activity, with more than 4,000 contacts added to the database. Total contacts increased to more than 13,800, up from 9,743 the year prior. And the leading multifamily developers added 68 division locations, with the total number of office locations now at 1,044. 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. Professional Business Publications, Inc., (PBP), has released its completely updated 2021 Directories with detailed contact listings for more home builders and multifamily developers 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. In response to the market changes, PBP has once again increased its research staff to track these changes and help our subscriber/members keep up with movement in the market.
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With the wind at their backs, major home builders continue to ride the wave of optimism with new appointments, promotions and hires. Mattamy Homes has named Don Barrineau as the new Division President for the company’s Arizona Division. He replaces Harry Lourimore, who is now running his own land development firm. Barrineau was Division President in the Alberta, Canada Division for Mattamy. Collin Campbell has been promoted to the President position there. He had been serving as SVP Operations.
Elizabeth McFarland has joined Trammell Crow Residential as Development Manager. She she comes to the company after seven years with GDA Architects. Brian Boyce returns to TCR in Denver as Project Manager. He worked here previously as well as serving in similar roles with Century Communities and AMLI Residential. Janell Murphy is now Regional Sales Manager - Active Adult for Greystar for Texas, Nevada and Washington. She previously was a community manager with the company. Bradley Carver has been promoted from Regional Manager to Director, Real Estate Operations with Greystar. Cecelia Bolognia joins Greystar as Director in the Boston market, moving from Wood Partners. Peter Roche joins Greystar as Project Manager in Boston after more than 23 years with Skanska USA. Rachel Pidoux also joins the Boston team for Greystar as Regional Property manager, after 10 years with RE Carroll Management. Tara Newton joins Greystar in Denver as Sr. Manager Operations. Michael Horgan moves to Greystar in Atlanta as Regional Manager for Construction Services. He was previously with Ashton Woods Homes. Alfonso Obando has joined Alliance Residential as Development Manager in the Orlando market,. He comes to the company from Epoch Residential where he served in a similar capacity. Garrett Strong joins AvalonBay Communities as Finance Manager in the Washington, D.C. metro area. Joey Pellicone has moved to Wood Partners in Southern California as Design Project Manager, moving from Alliance Residential. Lennar Corp. is betting big on the single-family rental market with its new venture with investment giants Allianz Real Estate and Centerbridge. Called Upward America, the company has a $1.25 billion equity commitment from Allianz and Centerbridge, along with other un-named institutional investors, to acquire single family rental homes in high growth markets across the United States.
Including leverage, the Upward America will be positioned to acquire over $4 billion of new single-family homes and townhomes from Lennar and, potentially, other homebuilders, and rent them to households earning “approximately” the median income in each market. The Upward America Venture plays to Lennar’s vision of becoming an ESG driven homebuilding company, making its homes not only available for sale but also for rent, with a portion of the homes available with a rent to own option. This will provide the opportunity for families and individuals to live in brand-new homes at an attainable price point, all without putting up a down payment. The venture will benefit from access to Lennar’s pipeline of over 300,000 owned and controlled homesites. Kirkland & Ellis LLP acted as legal advisor to Lennar. Simpson Thacher & Bartlett LLP acted as legal advisor to Centerbridge and Ropes & Gray LLP acted as legal advisor to Allianz Real Estate in the deal. The investment is a first for Allianz in single-family rental in the US market as the company looks to get in on strong demand seen in the segment from maturing millennials looking for accommodation with a preference for newly constructed homes and their propensity to rent. The investment forms a diversification play within the U.S. strategy, where Allianz intends to deploy $1.3 billion in the residential markets over the next few years. The transaction demonstrates investors’ increasing demand for SFR assets, a sector which has grown from individual units owned and rented out by small investors, to large investors acquiring significant portfolios, building new units specifically for rent and creating entire communities of SFR properties. In recent months Nuveen Real Estate, one of the world’s largest real estate investment managers, announced that it will invest up to $400 million through Sparrow, a newly launched single-family home rental platform. Invitation Homes announced a $375 million joint venture with Rockpoint to acquire single-family rental homes. And Canada’s Tricon Investment Group, an early investor in the sector, has moved into the build-to-rent space with American Homes 4 Rent. Reported by Real Estate Weekly (March 22, 2021) For complete contact information for all business leaders at Lennar Corp. and the other leading U.S. homebuilders including all corporate and division contacts, consult The National Builders Directory and Online Database. Industry momentum shows no signs of slowing as top builders and developers buy land and unveil plans for new projects. Meritage Homes announced plans to break ground on housing communities in Marana and Vail in the Arizona market that will add more than 200 homes to the Tucson metro area.
Richmond American Homes has picked up another 114 lots in the Sacramento market for what will be the second phase of its Woodbury at Bradshaw community. The company paid $5.7 million for the land. Park Square Homes is partnering with retail developer Konover South on the combined $9.5 million purchase of about 60 acres in Ocoee, Fla., where they plan to build the mixed-use Ocoee Village Center. Lennar has submitted plans for 220 single-family homes it plans to build in the North Carolina Triangle area. If approved, the homes would be built on an 80-acre parcel in Wendell, N.C. Trammell Crow Residential has submitted plans to build an apartment complex in the town of Bolton, Mass., under its Alexan brand. The complex would be built on a 27-acre site across the highway from where another apartment complex has been proposed. Called Alexan Bolton, the plan calls for 240 units, with 25% of the units designated under the state 40B housing law. All of the apartments, primarily one- and two-bedroom units, would be counted toward the town’s affordable housing goal. Plans call for construction of four, four-story buildings. A clubhouse for residents also is part of the plan. D.R. Horton’s multifamily division, DHI Communities, purchased 34 acres in Pasco County where it plans to develop the Grove West. The site is zoned for 82 for-sale townhomes and 330 apartments. DHI paid $9.5 million for the site and the company plans to invest $80 million on the project. Mill Creek Residential is proposing a second phase at the Founders Row development in Falls Church City, Va. The proposal calls for a mixed-use apartment building with 319 units, ground floor retail, and underground parking with 80 retail and 351 residential spaces. The project would be built across the street from the first phase of Founders Row on a site now occupied by a vacant pharmacy and carpet store. Mill Creek submitted an application for Founders Row II to the city in November. The developer anticipates completing the first phase by next March and hopes to start phase two around the same time. For complete contact information for all business leaders for these projects and others at Meritage Homes, Richmond American Homes, Lennar Corp., Park Square Homes, Trammell Crow Residential, D.R Horton, Mill Creek Residential and others, including all key corporate and division contacts, consult The National Builders Directory and The Directory of Multifamily Builders & Developers and Online Database. Alliance Residential Co. has acquired 74.9 acres in Jefferson, Ga., where it plans to develop Prose Concord, a new multifamily property totaling 300 units. This property will be Alliance Residential’s first launch of Prose in the Southeast. Construction will begin on Prose Concord this year with an expected completion date of March 2022. Architect Hensley Lamkin Rachel Inc. is designing the development
. Prose Concord will include one- and two-bedroom apartment units averaging 1,008 square feet. Apartments will feature stainless steel appliances, wood plank-style flooring, walk-in closets, storage and dining-sized kitchen islands. Community amenities will include a fitness center, co-working spaces, pet park and a 24/7 package concierge. The multifamily community will be located on the northeast side of Atlanta, close to many industrial spaces. Over the past few years, 18 million square feet of industrial warehouse and distribution space has been delivered within a five-mile radius of Prose Concord. Another four million square feet of industrial space is currently under development. Recently, Amazon and Walmart leased 800,000 and 1 million square feet of space, respectively, within a few miles of Prose Concord. Reported by REBUSINESS Online. For complete contact information for all business leaders at Alliance Residential and the other leading U.S. multifamily developers and buildings including all corporate and division contacts, consult The Directory of Multifamily Builders & Developers and Online Database. The New Home Company Inc. expands into Denver, Colo., with the acquisition of Epic Homes, a unique and innovative homebuilder with a strong, well-established presence in the market. Epic President and Founder Christina Presley will remain on board as President of Epic Homes, a newly formed homebuilding division of The New Home Company.
“We are thrilled to announce our expansion into the Denver market,” said Larry Webb, Executive Chairman of The New Home Company. “Denver exhibits many of the qualities we look for in a new market including excellent quality of life, a young and vibrant population, steady job growth and rising income levels. We are even more excited about bringing Chris Presley and her team at Epic Homes into The New Home Company fold, as they take a similar approach to homebuilding as we do, with a culture built around teamwork, customer satisfaction and a passion for the business.” NEW HOME assumed Epic’s backlog of 102 homes valued at approximately $100 million as of the closing date of February 26, 2021. In addition, NEW HOME assumed control of Epic’s land assets which include 294 owned and controlled lots, three active communities and one soon-to-be-opened community. The average selling price of Epic’s communities range from $600,000 to $1.4 million. Leonard Miller, President and CEO added, “With the addition of Epic Homes, The New Home Company enters a very attractive market with an established operator. Not only do our two brands align, but Chris’s proven track record, deep relationships and leadership qualities are what really stood out in making our decision to enter the Denver market. In the short-term, the transaction will provide us with an immediate boost to our revenue and earnings thanks to the homes in backlog and actively selling communities. Longer-term, we view this as a great strategic move for our company as it further diversifies our geographic presence, enhances our opportunities for growth and establishes us in a market with great homebuilding fundamentals.” “I am so excited to be joining our Epic family with the amazing team at The New Home Company,” said Presley. “The alignment of our companies’ values, vision and culture is remarkable, and will allow the Epic Homes team to continue our commitment to building homes with exceptional quality and design while upholding people and relationships as our top priority. I am sincerely grateful to our customers, homebuilding partners and incredible Epic Homes team for making Epic Homes a success, and I look forward to building upon that success together with The New Home Company.” Reported by Company Press Release For complete contact information for all business leaders The New Home Company and the other leading U.S. homebuilders including all corporate and division contacts, consult The National Builders Directory and Online Database. |
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