Land

UCP/BENCHMARK HOMES

UCP to Acquire 95 Lots in SoCal's Rancho Cucamonga

Per a press statement, "UCP, Inc. announced it has entered into an agreement to acquire and develop Rancho Etiwanda, a land parcel consisting of 95 partially improved lots, for a purchase price of $27.6 million. The property is located within Rancho Etiwanda Estates, a 632-unit gated master planned community in Rancho Cucamonga, Calif., a highly desirable submarket in San Bernardino County."

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BIG BUILDER

Johnson, Tricon Team up on Masterplanning a Future

The Johnson Companies LP, parent of masterplanned community development's hottest player right now, Houston-based Johnson Development sold an undisclosed percentage of the company to Toronto-based Tricon Capital Group for $18.5 million. The equity investment gives Johnson an infusion of growth capital and succession planning runway, and it yields Tricon an ever-strengthening yield opportunity against the United States housing market's early recovery bright spots. BUILDER's John McManus reports.

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WILLIAM LYON HOMES

William Lyon Antes $175M for 540 Lots in 8 City Ventures Tracts

Per a press statement from William Lyon Homes, "William Lyon Homes has announced the execution of a definitive agreement to acquire an infill portfolio of residential land from City Ventures, LLC for an aggregate purchase price of approximately $174.5 million. The acquisition includes approximately 540 lots in eight new home communities located in Orange and Los Angeles Counties in Southern California, and Santa Clara County in Northern California."

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BIG BUILDER

Land and Money: Finance Options Open Up

The awaited credit spigot has begun to flow. At least in select markets, lenders and investors now compete with one another to finance acquisition, development, and construction capital for home builders to buy lots, develop them, operate, and go vertical. Here's the lowdown on a new program from North Star, which promises particular benefits to smaller, National Association of Home Builders members, and some context around this always-fraught issue of AD&C finance.

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BIG BUILDER

McGuyer, Hillwood team on a Houston master-stroke

Inside the mechanics of the new joint venture that teams Texas super-regional home builder McGuyer Homebuilders and Hillwood Communities for Hillwood's first Houston-area masterplanned community--Pomona, a 1,000-acre, $700 million tract along Houston's Highway 288 corridor in Manvel, there are flashpoints into how this leg of recovery's working to put money where opportunities lie.

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