We bring decades of experience in real estate, home building, and entitlements into a strategy designed to help solve the housing crisis, while maximizing returns for our investors.
A housing shortage across the United States has created a demand for attainable inventory like nothing seen in recent history. As of 2024, Freddie Mac estimates that the country is 3.7 million units short of demand.1
A major factor contributing to this growing imbalance is the collapse, decades in the making, of the starter-home sector. In 1982, 40 percent of all new homes constructed in the U.S. were "entry-level" size, or smaller than 1,400 square feet, perfect for first-time buyers. By 2022, that number had fallen to 7 percent.2 The result is a generation of young people — 68 million millennials, to be exact — struggling to enter a market with only 700,000 available units.3 It's a perfect storm of competition. But where many see a challenge, we see a great opportunity.
Explore how the housing industry is failing younger generations by watching the short video below.
With the rise of interest rates disincentivizing current owners to move, and thus dragging down existing home sales, we believe that new builds are the quickest and most effective answer to the housing shortage — and provide the greatest opportunity for investors. New. Attainable. For-sale. That's our recipe.
But rather than construct everything ourselves (though we can do that, too, through our in-house home building business), we've developed a unique process for repurposing urban infill real estate into residential opportunities without actually owning property.
The mechanics of the approach are deceptively simple, but require deep expertise that we have developed over decades in the real estate space. The process is broken into three main steps:
We focus on controlling property rather than owning it. After identifying a property with high potential in one of our target markets, we utilize a purchase-and-sale agreement to bring it into our funds. This allows us to do our work without incurring significant debt or risk. After we assume control, the property undergoes due diligence and committee review to make sure it's right for our strategy. This process is highly selective. Out of every 100 properties we identify as "high potential," only about five are chosen for our funds.
The next step of the process is split into two phases: Entitle and Design. First, our repurposing team secures jurisdictional approvals necessary for our projects. This requires deep local expertise, which is why we have offices in nine regions nationwide. After that, we design a site plan for the property. All in, this step can take 24 to 36 months on average.
Finally, we seek to sell the completed plans and shovel-ready parcels to the nation's top home building companies. Or, if we deem an opportunity appropriate for our home-building subsidiary, Homes Built For America, we also have the ability to take the project vertical ourselves.
Explore how a purchase-and-sale agreement works by watching the short video below.
Why do we do it this way? There are several potential advantages to a control strategy like ours. Among other benefits, the design of our method may require less up-front capital investment; allow for full control over site plans; eliminate the management of leases, tenants, and taxes; provide more leverage in negotiations with owners; and limit risk to project-specific capital and time.
Explore how our process is designed to work in all market conditions by watching the short videos below.
For all inquiries, please leave a message at our main office, where it will be forwarded immediately to the correct department. We aim to respond to all messages within 1-2 business days.
