LAKEWOOD RANCH, FL – Starwood Land Ventures, LLC (“SLV”), a Starwood Capital Group affiliated real estate investment firm that specializes in residential land development, today reported strong lot sales to homebuilders in 2012 at many of its top selling master-planned communities in Florida, Arizona and Colorado.
Highlights of the fiscal year 2012 include:
n Nearly 1,500 residential lots sold to 13 different national public and large private builders in Florida, Arizona and Colorado.
n In Florida, SLV’s Independence was named the #1 selling master-planned community in Orlando, with 230 homes sold in 2012; and in Tampa, SLV’s Live Oak Preserve was named the #2 selling community in Tampa, with 200 homes sold in 2012.
n With the opening of Terrain, a 1,800 lot master-planned community in the south Denver metro, a combined 275 lots were sold in 2012 to Taylor Morrison, Tri-pointe Homes and Lennar.
n In Phoenix, Arizona, at SLV’s three actively selling communities Sienna Hills, Arroyo Norte and Homestead, 300 combined homesites were sold to various builders.
“Since our inception in 2007, SLV has invested over $220 million to acquire nearly 17,000 residential lots,” said Mike Moser, co-CEO of SLV. “To date, we have generated over $200 million in proceeds from our sales.”
Mike Forsum, co-CEO, noted the major markets in which SLV has concentrated its acquisitions are showing increased permitting and sales activity, with Phoenix being especially robust. SLV now has three active communities in Phoenix and expects to add two more in 2013.
“Over the last few years, our strategy of purchasing, repositioning and operating new home communities in markets with strong job growth prospects has now positioned the Company to fulfill its long-term strategic plan of being one of the nation’s most active providers of homesites to the hombuilding industry as the market recovers. We have multiple, well-located residential communities which are now selling lots to several of the nation’s top quality homebuilders, including Lennar, Taylor Morrison, DR Horton, KB Home and other national players,” Forsum said. “Though we are satisfied with our past acquisitions, we continue to look for opportunities as we see demand growing for residential building lots, especially among the national builders who continue to ramp up their homebuilding operations in response to this recovery.”
“SLV is uniquely positioned to continue its dominance as one of a few land developers remaining that provides quality lots and locations to some of the top builders in the country,” said Moser.