WCI Communities has hired Douglas L. Schwartz, a Florida home building veteran, as senior vice president of asset management to take charge of its land holdings.
“Doug will be responsible for helping us sell non-core assets and working with builders to facilitate lot and/or parcel sales within certain communities,” CEO David Fry said in an e-mail to Big Builder. He will also be charged with maximizing the value of the land the company keeps through strategic planning and entitlement management.
WCI’s business plan post-bankruptcy is to sell assets it determines are non-core to generating cash. Also, for the first time, the company has been considering selling lots in its developments to other builders.
“We have identified several communities where this makes sense for us and are presently negotiating with several builders. This will not take place in all our communities,” Fry wrote.
Schwartz has worked in the Florida real estate industry for almost 20 years. He was an executive vice president for Taylor Woodrow, responsible for its home building community development and tower business in Florida. In that capacity, he was part of the senior executive team that implemented the merger of Taylor Woodrow with Morrison Homes in 2007. He was also a division president for Centex Homes.
Schwartz returns to his roots with the new job. He began his career in real estate after graduate school at WCI, working in various management positions for seven years.
“We are pleased to welcome Doug to our team,” said Fry in a release announcing the hire. “Or perhaps I should say, welcome him back. He brings a wealth of experience, knowledge, and enthusiasm to attaining our current and future goals.”
