Mountain Real Estate Capital & Oakwood Homes Pen Partnership

Charlotte’s Mountain Real Estate Capital (MREC) and Oakwood Homes of Colorado have penned a $100 million dollar deal to fund the further growth of MREC.

The Oakwood Homes Team

The Oakwood Homes Team

According to the news release, MREC and Oakwood have been in negotiations since last June over the potential partnership. Previously the two firms partnered to mutually acquire the 2,600 acre Banning Lewis Ranch  planned community in Colorado Springs, Colo. Peter Fioretti, chairman and CEO of MREC, offered this on today’s announcement:

“Oakwood has clearly developed a competitive edge in their marketplace and continued to reinvent themselves with superior product and market positions during the downturn. Together, we will be positioned to now take advantage of the growing market opportunities throughout the Midwest and Western markets.”

With this new partnership CEO of Oakwood Homes, Pat Hamill’s expansion plans begin to take shape. The expanded partnership will eventually lead to the parties in joint ownership 9 similar communities with lot inventories of some 7,100 home. The announcement also tells of a back log of sold homes in excess of 300, plus projected sales of some 600 plus altogether.

For more information on this deal, or about the companies mentioned, we suggest the reader follow the links or refer to the original release. The video below is from Oakwood Homes’ YouTune Channel.

About Mihaela Lica Butler

Mihaela Lica Butler is senior partner at Pamil Visions PR. She is a widely cited authority on public relations issues (BBC News, Force for Good, Reuters, Al Jazeera, and others), with an experience of over 20 years in online PR. Mihaela is also the editor at Argophilia Travel News and a consultant for many online travel companies.