Builder Magazine: Finance

WCI Moves Beyond Bankruptcy

Mon, 25 Jun 2012 06:05:24 EST

The Florida-based builder is paying off its bankruptcy debt and getting back to the business of building homes.

Editor's Notes: Hail and Farewell!

Mon, 30 Jan 2012 10:36:55 EST

With the final issue of BIG BUILDER, a heartfelt thanks to the home building community.

Comstock Adds a Cash-Rich Partner

Mon, 30 Jan 2012 09:15:50 EST

Comstock Homebuilding Companies, Inc. (NASDAQ: CHCI) said Wednesday it has formed a "strategic alliance" with SunBridge Capital Management, LLC, a private investment management firm supported by the Bainum family of Washington, DC with interests including Choice Hotels International (NYSE: CHH). The deal includes up to $20 million of senior secured financing from SunBridge.

Allan Merrill Named CEO of Beazer Homes

Tue, 31 Jan 2012 02:58:21 EST

Beazer Homes USA, Atlanta (NYSE:BZH) early Monday abruptly announced that Ian J. McCarthy, the company's president and CEO, had left the company. He is succeeded by CFO Allan Merrill, who was named president and CEO. The company said only that McCarthy "is leaving the company and has resigned from the board of directors."

Alan Merrill Named CEO of Beazer Homes

Tue, 31 Jan 2012 02:58:16 EST

Beazer Homes USA, Atlanta (NYSE:BZH) early Monday abruptly announced that Ian J. McCarthy, the company's president and CEO, had left the company and its board. He is succeeded by CFO Allan Merrill, who was named president and CEO. The company said McCarthy "is leaving the company and has resigned from the board of directors."

PulteGroup's New-Orders New Math Helps Its Q1 Cause

Thu, 28 Apr 2011 12:55:33 EST

The company's change to its 2010 first quarter count improves the comparison to this year's first quarter immeasurably.

Toll's Gibraltar Buys Into $200M Loan Package

Tue, 31 Jan 2012 11:09:45 EST

Roughly seven months since Toll Brothers' subsidiary Gibraltar Capital and Asset Management closed on its first deal, the distressed asset acquisition and management unit is at it again. Toll Brothers management announced Thursday that the wholly owned subsidiary partnered with Deutsche Bank to purchase a $200 million distressed loan portfolio

Taylor, Monarch to Fetch Nearly $1 Billion

Mon, 30 Jan 2012 09:59:20 EST

TPG Capital, Oaktree Capital Management, and JH Investments have offered $955 million for Taylor Wimpey's Taylor Morrison and Monarch Homes in a deal set to close in May. Sheryl Palmer, Taylor Morrison president and CEO, tells

M.D.C. CFO Retires

Tue, 31 Jan 2012 10:16:07 EST

M.D.C. Holdings senior vice president and CFO Christopher M. Anderson has retired from the company effective Nov. 6, but will remain a consultant for another 90 days.

Editor's Notes: Joel H. Rassman, 1945–2010

Mon, 30 Jan 2012 10:14:20 EST

A brilliant career.

KB Names Third CFO in Two Years

Tue, 31 Jan 2012 10:11:14 EST

KB Home (NYSE:KBH), Los Angeles, on Thursday announced the hiring of its third chief financial officer in the past two years. He is Jeff Kaminski, who will join KB June 7 from the same post at Federal-Mogul Corporation, a Michigan-based automotive technology company.

Feature: Nowhere to Go But Up

Mon, 30 Jan 2012 10:30:03 EST

Private builders are finding ways to buy time until the housing crash is far enough behind for banks to lend again.

Texas Builder Finds Private Equity Partner

Tue, 25 Jan 2011 12:48:05 EST

LGI Homes forms land-buying joint venture with GoldenTree InSite.

Lennar Takes Stake in Distressed FDIC Paper

Tue, 31 Jan 2012 10:13:56 EST

Lennar Corp. (NYSE: LEN) late Wednesday said it had entered into a pair of structured transactions with the Federal Deposit Insurance Corpation involving a 40% stake in companies set up to hold distressed loan assets. Lennar said it would pay approximately $243 million for the stake. The two portfolios of loans have a combined unpaid balance of $3.05 billion.

M.D.C.'s Strategies Proving Effective

Mon, 30 Jan 2012 10:43:07 EST

KB CFO Leaves the Company

Tue, 31 Jan 2012 10:11:35 EST

KB Home, Los Angeles (NYSE:KBH) disclosed late Thursday in an 8-K filing with the Securities and Exchange Commission that its executive vice president and chief financial officer, Raymond P. Silcock, had left the company on Monday.

Judges Upend Bankruptcy's Traditional Rules

Tue, 27 Oct 2009 12:12:22 EST

Some judges are penalizing lenders they think acted irresponsibly in the housing boom, pushing them further back in the payment line.

Lyon Gets $206 Million Capital Infusion

Mon, 30 Jan 2012 10:09:42 EST

William Lyon Homes is tapping into $206 million from Colony Capital and Colony Financial, a real estate investment group, to restructure its debt and provide capital for general operations and potential land deals.

Mercedes Homes' Reorganization Plan Goes to Judge

Fri, 18 Sep 2009 12:06:13 EST

Proposal would give one major creditor, controlled by the Buescher family, all the stock in the newly restructured company.

Lennar's Sales Numbers Improve

Fri, 18 Sep 2009 11:58:03 EST

CEO says consumers' "abject pessimism" has been replaced with "sense of opportunity."