Strategic partnership to expand residential
land acquisition and development to provide finished lots to
homebuilders across the Southeast U.S.
DELRAY
BEACH, Fla., Nov. 21,
2024 /PRNewswire/ -- The Kolter Group ("Kolter")
is excited to introduce, a strategic partnership between Kolter's
land business ("Kolter Land") and
Brookfield Residential's Land development group ("Brookfield
Residential"). The Partnership will provide finished residential
lots and mixed-use pads to builders in the Southeast U.S.
The Partnership combines Kolter's operational strength in the
Southeast with Brookfield Residential's broad experience in real
estate investments and scaling businesses. Deploying a shared
commitment to excellence, the Partnership will capitalize on the
Southeast's long-term growth as well as an increasing desire among
builders to place land development in the hands of expert
partners.
Jim Harvey, a 30-year veteran of
residential development, will be pivoting from his role as
President of Kolter Land to head the
Partnership. He said, "Our partnership with Brookfield Residential
represents a significant milestone for Kolter Land. Our shared vision, and
complementary strengths, position us to be the land developer of
choice in the Southeast. We look forward to a successful
collaboration that will benefit our Partnership and the communities
we serve."
Brookfield Residential specializes in land entitlement and
development to create dynamic neighborhoods and master-planned
communities across the US. The firm provides lots to third-party
customers, including their own homebuilding business, and is one of
the largest suppliers of lots to the homebuilding industry. It will
build upon the already industry-leading relationships of
Kolter Land, which has sold lots to
the Southeast's leading public and private builders as well as the
sale of retail and multifamily parcels to other vertical
developers.
Adrian Foley, President &
Chief Executive Officer of Brookfield Residential, stated, "We are
thrilled to partner with Kolter to expand our operations in the
Southeast market. Our combined expertise and resources will enable
us to deliver high-quality residential and mixed-use communities
that meet the growing demand in Florida, Tennessee, Georgia and the Carolinas."
About The Kolter Group: The Kolter Group ("Kolter") is a
private investment firm focused on real estate development and
investment. Kolter operates four residential development business
units and has sponsored over $29
billion of realized and in-process residential real estate
projects throughout the Southeast U.S. (including Florida, Georgia, South
Carolina, North Carolina,
and Tennessee). For more
information, visit www.kolter.com or www.kolterland.com.
About Brookfield Residential: Brookfield Residential
Properties ULC is a leading land developer and homebuilder in
North America. We entitle and
develop land to create master-planned communities, build and sell
lots to third-party builders, and conduct our own homebuilding
operations. We also participate in select, strategic real estate
opportunities, including infill projects, mixed-use developments,
and joint ventures. We are the flagship North American residential
property company of Brookfield Corporation (NYSE: BN; TSX: BN), a
global alternative asset manager. For more information, visit
www.BrookfieldResidential.com or
www.BrookfieldResidentialLand.com.
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SOURCE The Kolter Group
