• In early 2005, MBK Homes underwent its first expansion effort, growing out of its Southern California footprint by launching a Northern California division.
  • The company closed 368 homes in 2005 and expects to double that number within the next two years as a result of their expansion.
  • As a division of MBK Real Estate Ltd., the U.S. real estate development arm of international corporation, Mitsui & Co., MBK Homes has access to deep pockets, which can be leveraged in a down market.
  • Bottom Line Because of its hefty financial backing, MBK Homes can afford to be patient with its Northern California start-up investment. “We've been open for almost 18 months, and we have yet to close a home,” Jon Tattersall, president of the Northern California division. “What that's really been about is tailoring our niche.” With 70 Sacramento closings projected for 2007, Tattersall predicts that in the next few years, the Northern California operation will spin off satellite divisions to the region's Greater East Bay and Reno, Nev.

    MBK HOMES 175 Technology Dr.

    Irvine, CA 92618

    Phone: 949-789-8300