Latest news with #BrookfieldResidential
Yahoo
02-06-2025
- Business
- Yahoo
Brookfield Residential and Trez Capital Form Joint Venture to Complete a Master-Planned Community within the Florida Market
COSTA MESA, Calif. and VANCOUVER, BC, June 2, 2025 /PRNewswire/ -- Brookfield Residential, a leading land developer and homebuilder in North America, is pleased to announce the launch of a strategic joint venture with Trez Capital, a leader in North American commercial real estate investments, to develop a new master-planned community in Central Florida named Osprey Creek. This project marks an expansion of Brookfield Residential's presence in the Florida market, with the development set to meet the growing demand for high-quality residential communities. The joint venture will see Brookfield Residential and Trez Capital combine their expertise in land development and capital deployment to deliver premium residential communities. The partnership reflects a shared commitment to responsible development and creating communities that enhance residents' quality of life. Osprey Creek is a master-planned community in Polk County, Florida, offering over 900 residential lots. Located approximately 35 miles south of Orlando, this development will feature traditional single-family homes with an emphasis on affordability for first-time buyers. The community is conveniently situated near major transportation routes and area attractions, making it an ideal location for young families, retirees, and professionals. "This collaboration with Trez Capital underscores our commitment to expanding our footprint in key markets like Central Florida," said Adrian Foley, president and CEO of Brookfield Residential. "By leveraging our operational strengths and market knowledge, we are positioned to deliver vibrant, impactful communities that cater to the growing demand for affordable housing options in the region." "Partnering with Brookfield Residential marks the beginning of a strong and strategic relationship that combines deep development expertise with disciplined capital deployment," said John D. Hutchinson, co-CEO and global head of origination at Trez Capital. "The Osprey Creek community is an excellent example of our ability to identify and invest in high-potential real estate projects that provide lasting value for our investors." Sam Salloway, senior managing director, head of equity investments at Trez Capital, added, "Florida continues to lead the nation in population growth, and this joint venture solidifies our confidence in the region's long-term fundamentals as part of our broader strategy to partner with industry leaders in delivering thoughtfully planned communities that address long-term market demand." The joint venture will benefit from both companies' strong relationships with an institutional homebuilder and help meet the demand for housing in rapidly growing areas of Florida. About Brookfield ResidentialBrookfield Residential Properties ULC is a leading land developer and homebuilder in North America. The company entitles and develops land to create master-planned communities, builds and sells lots to third-party builders, and conducts its own homebuilding operations. Participation in select strategic real estate opportunities includes infill projects, mixed-use developments, and joint ventures. As the flagship North American residential property company of Brookfield Corporation (NYSE: BN; TSX: BN), Brookfield Residential is committed to excellence in residential development. Further information is available at and About Trez CapitalFounded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndication offerings, and real estate joint-venture investments; and provides property developers with quick approvals on flexible short- to mid-term financing. With offices across North America, Trez Corporate Group has over $5.7* billion CAD in assets under management and has funded over 1,800 transactions totaling more than $20.5 billion CAD since inception. For more information, visit (*As at Q1 2025, Trez Corporate Group AUM includes assets held by all Trez-related entities). View original content to download multimedia: SOURCE Brookfield Residential; Trez Capital
Cision Canada
02-06-2025
- Business
- Cision Canada
Brookfield Residential and Trez Capital Form Joint-Venture to Complete a Master-Planned Community within the Florida Market
COSTA MESA, Calif. and VANCOUVER, BC, June 2, 2025 /CNW/ - Brookfield Residential, a leading land developer and homebuilder in North America, is pleased to announce the launch of a strategic joint-venture with Trez Capital, a leader in North American commercial real estate investments, to develop a new master-planned community in Central Florida named Osprey Creek. This project marks an expansion of Brookfield Residential's presence in the Florida market, with the development set to meet the growing demand for high-quality residential communities. The joint-venture will see Brookfield Residential and Trez Capital combine their expertise in land development and capital deployment to deliver premium residential communities. The partnership reflects a shared commitment to responsible development and creating communities that enhance residents' quality of life. Osprey Creek is a master-planned community in Polk County, Florida, offering over 900 residential lots. Located approximately 35 miles south of Orlando, this development will feature traditional single-family homes with an emphasis on affordability for first-time buyers. The community is conveniently situated near major transportation routes and area attractions, making it an ideal location for young families, retirees and professionals. "This collaboration with Trez Capital underscores our commitment to expanding our footprint in key markets like Central Florida," said Adrian Foley, President and CEO of Brookfield Residential. "By leveraging our operational strengths and market knowledge, we are positioned to deliver vibrant, impactful communities that cater to the growing demand for affordable housing options in the region." "Partnering with Brookfield Residential marks the beginning of a strong and strategic relationship that combines deep development expertise with disciplined capital deployment," said John D. Hutchinson, Co-CEO & Global Head of Origination at Trez Capital. "The Osprey Creek community is an excellent example of our ability to identify and invest in high-potential real estate projects that provide lasting value for our investors." Sam Salloway, Senior Managing Director, Head of Equity Investments at Trez Capital, added, "Florida continues to lead the nation in population growth, and this joint-venture solidifies our confidence in the region's long-term fundamentals as part of our broader strategy to partner with industry leaders in delivering thoughtfully planned communities that address long-term market demand." The joint-venture will benefit from both companies' strong relationships with an institutional homebuilder and help meet the demand for housing in rapidly growing areas of Florida. About Brookfield Residential Brookfield Residential Properties ULC is a leading land developer and homebuilder in North America. The company entitles and develops land to create master-planned communities, builds and sells lots to third-party builders, and conducts its own homebuilding operations. Participation in select strategic real estate opportunities includes infill projects, mixed-use developments and joint ventures. As the flagship North American residential property company of Brookfield Corporation (NYSE: BN; TSX: BN), Brookfield Residential is committed to excellence in residential development. Further information is available at and About Trez Capital Founded in 1997, Trez Capital is a diversified real estate investment Firm and preeminent provider of commercial real estate debt and equity financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndication offerings and real estate joint-venture investments; and provides property developers with quick approvals on flexible short- to mid-term financing. With offices across North America, Trez Corporate Group has over $5.7* billion CAD in assets under management and has funded over 1,800 transactions totalling more than $20.5 billion CAD since inception. For more information, visit (*As at Q1 2025, Trez Corporate Group AUM includes assets held by all Trez-related entities).
Yahoo
10-05-2025
- Business
- Yahoo
Triangle's largest master-planned community takes next-to-last phase to market
The Triangle's largest master-planned community, Wendell Falls, is launching its next-to-last phase a decade after it first opened. Starting in mid-May, developer Newland Communities said it will release 169 lots in the 1,100-acre development on the west side of town, south of Hwy. 264 bypass. It's 15 miles east of downtown Raleigh. Four builders — Garman Homes, Homes by Dickerson, McNeill Burbank and Brookfield Residential — are constructing townhomes and single-family homes ranging from 1,637 to 4,000 square feet with three and four bedrooms. Prices start in the low $300,000s and go up to over $900,000, according to its website. 'Our phased approach is bringing our Wendell Falls vision alive,' said Tanya Matzen, senior vice president at Brookfield Residential, in a release. 'As the community grows, we continue to add amenities, retail and restaurant options, and of course, new homes.' Wendell Falls opened in 2015 after a rocky start. (The original developer was foreclosed upon, and the project was owned by Wells Fargo for several years before Newland paid $34 million to acquire the property in 2013, The N&O previously reported.) To date, more than 70% of the 4,000 total new homes, built through 12 prior phases, have been built and are now occupied, the firm said. The community includes nearly 273 acres of preserved open space, 10 miles of trails, parks and playgrounds, pools and waterparks, outdoor fit pods, fitness center, The Farmhouse Café, and Treelight Square, a retail and dining venue. The subdivision is a joint venture partnership between North America Sekisui House LLC and Brookfield Residential, which also manages the development. Settled in the 1850s by tobacco farmers, the once-sleepy Wendell is one of the region's fastest-growing towns, not only in Wake County, but in all of North Carolina. As growth spills over from Raleigh, Wendell's population grew to 14,400, from 2020 to 2023, Census data found. That's up 46.5%. Today, it's closer to 17,300, according to World Population Review, growing at a rate of 9.27% annually. Investors and officials, meanwhile, are pouring millions into the town to meet surging demand. In 2024, WakeMed opened its new 12,000-square-foot Wendell Healthplex. It's around the corner from Wendell Falls. Wake Tech Community College, which has launched a new 100-acre east campus to the north. And this month, the town opened long-awaited Hollybrook Park at 1209 S. Hollybrook Road after acquiring the 19-acre site in 2020. 'This endeavor is just one piece of a larger expansion of recreation services to our residents,' said Mayor Virginia Gray, in a release. Amid market uncertainty and higher mortgage rates, home prices are sliding. In Wendell, the median-sale price for all housing types (single-family homes, townhomes and condos) was $357,590 in February 2025, Redfin found. That's down 4.6% year over year. On the plus side: As new stock hits the market, sales are up 21.6% year over year, data showed. On average, homes sold after 48 days on the market in February compared to 57 days last year. There were 45 homes sold this year, up from 37 last year.
Business Journals
22-04-2025
- Business
- Business Journals
Brookfield, CDC Houston developing Midline near Baybrook Mall
The mall's owner is developing the new master-planned community in a joint venture with the company that has owned the land since the 1960s. Story Highlights Brookfield Residential and CDC Houston are developing the 2,800-home Midline community. The first phase will include 271 homes priced from the $300,000s to the $700,000s. Community amenities will include 14 miles of trails with the goal of connecting to Baybrook Mall. A new master-planned community with around 2,800 single-family homes is coming to the Baybrook Mall area off Interstate 45 southeast of Houston, with first homes expected next year. Brookfield Residential Properties ULC is developing Midline in a joint venture with New York-based Coventry Development Corp.'s local subsidiary, CDC Houston Inc. Brookfield Property Partners LP (Nasdaq: BPY), a real estate unit of Toronto-based Brookfield Asset Management Inc. (NYSE: BAM), acquired Baybrook Mall and four other local malls as part of a multibillion-dollar deal for GGP Inc. in 2018. CDC Houston has owned the land — part of what was known as Webster Ranch — since the 1960s. It sold the part that now houses Baybrook Mall to the mall's developer, Homart Development Co., in the late 1970s, according to the company. Detention work is already underway on the 1,066-acre infill tract, which is located behind Baybrook Mall and runs from El Dorado Boulevard to Grissom Road along the current and planned sections of Beamer Road, the developers said. Currently, Beamer Road dead-ends at West Bay Area Boulevard. The first community's phase will include building Beamer from FM 528, or West NASA Parkway, to Fife Lane, a street in the adjacent Heritage Park neighborhood that will also be extended, said Matt McCafferty, senior vice president of operations at Brookfield Residential. That phase, west of Beamer between Fife Lane and FM 528, will include 271 homes on 40-to-70-foot-wide lots and could be priced from the $300,000s to the $700,000s, he said. He anticipates selecting between three to five homebuilders, to be announced later this year. 'We've talked with the builder community, and we believe that we have a high degree of interest,' McCafferty said, adding that he expects lot delivery around the end of the year. expand Midline development plan Brookfield Residential Community amenities include parks with pools and playgrounds as well as The Midline Club with indoor event space, a second-story gym, coworking spaces, outdoor splash pad and pool, event lawn and seating areas, slated to open in summer 2027. The parks will be connected by 14 miles of trails. Glendale, Arizona-based Cohere will manage the homeowners association as well as community events and activities, the developers said. The second phase will include extending Beamer to Bay Area Boulevard, with lots expected at some point next year. After that, the plan is to add lots east of Beamer and north of Bay Area Boulevard. Most of those phases are inside Houston's extra-territorial jurisdiction, with some parts recently deannexed from Webster and Friendswood, McCafferty said. The final phase will be south of FM 528, which is in League City, adjacent to Challenger Seven Memorial Park. Walking to Baybrook Mall The idea is to have trails for residents to be able to walk to Baybrook Mall, though the exact plan for the connection, which would run through adjacent property, has not been finalized, McCafferty said. 'The idea that you could walk to a mall or a Perry's Steakhouse (on) Day 1 from the grand opening of a 1,000-acre community, it's not found in many opportunities around the city (or even) the country,' he said. The master plan includes future commercial developments at the intersection of El Dorado and Beamer, across the street from Westbrook Intermediate School, and of Beamer and FM 528. Brookfield Properties and CDC Houston have already been partnering on The Lawn at Baybrook, the mall's outdoor portion, which opened in 2015. 'Early to mid-2023, we started really advancing our conversations with CDC on what the opportunity could look like to potentially put a master-planned community around the adjacent property around the mall,' McCafferty said. expand Rendering of the entry to Midline near Baybrook Mall Brookfield Residential On the other side of I-45, CDC Houston is co-developing the 23-acre H-E-B-anchored retail center Baybrook East with Florida-based Regency Centers (NYSE: REG). 'Since our ownership acquired the old Webster Ranch in the 1960s, of which Midline will be the last major piece to be developed, we have recognized the appeal and potential of the Baybrook trade area,' Warren W. Wilson, executive vice president of CDC Houston, said in a statement. 'We are very excited to partner with Brookfield, a company with a strong track record of community creation, to develop a high-quality planned community on the final piece of the original ranch land.' Although the Gulf Freeway corridor doesn't have as much room to grow as other parts of Greater Houston, the five school districts that make up the Galveston Bay Area — Clear Creek, Dickinson, Santa Fe, Texas City and Hitchcock — rival the Katy ISD area with a combined 14,709 future lots compared with 15,389, according to a Zonda analysis in early 2024. However, Katy has more than double the number in new home starts. On the northern side of El Dorado Boulevard, behind Westbrook Intermediate, a group of anonymous investors is planning Clearwater, an up-to-800-acre single-family home community. In League City, about 5 miles southwest of Midline, Dallas-based Hillwood Communities is developing the 805-acre Legacy community, including a 100-acre city park. And further south along I-45, in Texas City, Starwood Land's 2,033-acre Crystal Lagoon community Lago Mar, which broke ground in 2016, is designed for about 4,000 homes. Sign up here for the Houston Business Journal's free morning and afternoon daily newsletters to receive the latest business news impacting Greater Houston.
Globe and Mail
18-02-2025
- Business
- Globe and Mail
Constellation Unveils NX, Raising the Bar in Modernizing Homebuilder Operations
Next generation enterprise resource planning (ERP) software is an all-in-one solution developed to meet the unique requirements of the production homebuilding industry. TORONTO , Feb. 18, 2025 /CNW/ -- Constellation HomeBuilder Systems today announced the availability of NX ™, a new enterprise resource planning (ERP) platform for residential homebuilders and land developers. NX gives homebuilders of all sizes the power to manage their homebuilding business from a single, integrated platform. "Constellation is a long-term, dedicated, and trusted partner." - Brandon Sharp , CIO, at Brookfield Residential. Bob Swainhart , Vice President of the Enterprise Solutions Group at Constellation HomeBuilder Systems, has led an intense work effort over the last five years, in collaboration with several of Constellation's most engaged builders and developers in the U.S. and Canada , to bring NX to life. "Built from the ground up, NX is the most advanced, most intuitive, and most comprehensive homebuilder platform available. Builders using NX will future proof their business for decades to come." NX is a fully integrated, all-in-one platform built to meet the unique needs of the industry. NX modules span the full spectrum of the homebuilding journey: Land Management; Accounting and Finance; Purchasing and Estimating; Scheduling and Service Management; Sales and Design; Property Management; Business Intelligence and Reporting; and Competitive Benchmarking. Brandon Sharp , Chief Information Officer at Brookfield Residential, is one of the many leaders collaborating with Constellation on the development of NX. "Constellation is a long-term, dedicated, and trusted partner, providing critical business solutions to the homebuilding and land development industry," said Brandon. "Their continued commitment to serving the needs of the industry has been solidified in recent years as they have made a substantial investment in building a sustainable platform for the future." "Constellation is uniquely positioned to bring a mission-critical system of this magnitude and importance to market," said Chris Graham , President of Constellation HomeBuilder Systems. "We have the financial capability, a team with 3,000 plus years of combined homebuilding software experience, and a large, devoted customer base that helped prioritize our product roadmap." "We are proud of our partnership with Constellation," continued Brandon. "We value them as a critical part of our extended Brookfield Residential team, and we believe firmly in their ability to deliver the technology solutions needed to help our company, and many others throughout the industry, evolve and thrive." FarSight Homes recently selected NX to modernize their homebuilding operations. "There's no going back to legacy systems once you see and try NX," said Johnathan Schickedanz , General Manager, FarSight Homes. "To me, NX stands for next generation and my entire team is beyond excited to get started." NX represents the company's latest ERP platform in Constellation's product portfolio, which includes NEWSTAR, BuildTopia, FAST, and other solutions specifically developed for the homebuilding industry. The NX product team will be in Booth W3755 at the International Builders' Show (IBS) in Las Vegas on February 25-27, 2025 . To book a demo, contact sales@ or visit About Constellation HomeBuilder Systems Constellation HomeBuilder Systems is a leading provider of software and services in the building industry. Their innovative software solutions, available as standalone or integrated systems, empower builders with information to drive business objectives and simplify the process of building homes and condos. Constellation HomeBuilder Systems is part of the Perseus Operating Group of Constellation Software Inc., an international provider of market-leading software and services for specialized industries, which is traded publicly on the Toronto Stock Exchange (TSX:CSU). Media Contact: Karen Makedon VP of Marketing Constellation HomeBuilder Systems 1-888-723-2222 media@ SOURCE Constellation HomeBuilder Systems
