SANTA CLARITA, CA, April 07, 2011
/24-7PressRelease/ -- Santa Clarita-based Williams Homes, Inc. today announced the company has entered into a strategic affiliation with IHP Capital Partners, one of the nation's largest residential real estate investment firms. The joint-venture partnership positions Williams Homes with substantial additional capacity to drive the expansion of its homebuilding and development operations throughout southern California.
Commenting on the announcement, Lance Williams, President of Williams Homes said, "We are extremely pleased about our new relationship with IHP. Their experienced team understands our business and we've learned that we share similar acquisition and development philosophies. The formation of this venture will allow us to take advantage of some of the great opportunities we are seeing in our market right now, leveraging our knowledge further with the backing of IHP."
Jay W. Pruitt, Partner and Senior Vice President of IHP Capital Partners added, "We couldn't be happier about our choice of partner. We believe Williams Homes has a premier management team and exceptional building platform."
In the past 18 months, Williams Homes has expanded its portfolio to include the acquisition of more than 500 lots throughout southern California. Positioning for the expansion, Williams reinforced the senior management team with the addition of key members. Executive Vice President Keith Herren joined Williams Homes in 2008 and brings more than two decades of development experience in southern California real estate overseeing new acquisitions, forward planning and entitlements, product development, and marketing and sales of all new communities for Williams Homes. Robert Barjam, Senior Vice President of Development Operations, joined the Williams Homes team in 2010 and is responsible for management of day to day operations involving horizontal as well as vertical improvements. Barjam is also an industry veteran with 30 years of commercial and residential development experience throughout southern California and Nevada.
Williams Homes is currently building a variety of distinctive attached townhome and single-family home communities in cities throughout southern California including Los Angeles, Ventura, Santa Clarita, Glendora, San Dimas, Highland, and Barstow. The company's diversified portfolio includes product for first-time as well as luxury homebuyers.
The joint venture between Williams Homes and IHP Capital Partners has plans to announce the acquisition of two additional new developments in May 2011 that combine for 87 homes with revenues in excess of $30MM, furthering Williams Homes' measured growth strategy in a volatile real estate market.
ABOUT IHP CAPITAL PARTNERS
Founded in 1992, IHP is one of the nation's largest residential real estate investment firms. IHP invests institutional capital in real estate projects throughout the United States. The firm and its investment partners have created residential neighborhoods, communities and projects representing more than $19 billion of estimated sales revenue. Visit http://www.ihpinc.com for information.
ABOUT WILLIAMS HOMES
Under the leadership of Lance Williams, Williams Homes has built a reputation with new homeowners throughout southern California by providing homes of quality and distinction. During the last decade, Williams Homes has built and delivered hundreds of new homes and earned a respected reputation as a builder of exceptional quality homes and communities. The Williams Homes' team has established a relationship with its family of homebuyers as a builder who stands behind its product and continues to provide a level of customer service that exceeds expectations. Additional information is available online at http://www.williamshomes.com.
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- california, capital, development, estate, home, homes, ihp, new, partners, real, southern, williams
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