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About Us | Real Estate Segment

Recognizing and Responsibly Delivering the Greatest Value from Every Acre

We entitle and develop land and build multifamily communities in our target markets.

Our real estate segment focuses on delivering the greatest value from every acre. We move our acreage up the value chain by securing entitlements for land, including obtaining zoning and access to water, sewer and roads. When investment in development meets our return criteria, we initiate the development process. We focus on single-family and mixed-use master plan communities. Lots are sold to national, regional and local homebuilders and principally focus on the first and second move-up market, the largest segment of the new home construction market. We also sell undeveloped land and develop and sell commercial real estate acreage. We also develop Class-A low-rise apartments in urban or first tier suburban locations in growing markets by securing third party co-invest capital. In addition, we own or have interests in commercial income producing assets.

Delivering the Greatest Value from Every Acre
Greatest Real Estate Value Acres
(thousand)*
Activities – Uses Capital Requirement
Greatest Real Estate Value 2,000 Developed - Return on Cost Discipline High
10,000 Approved Uses and
Ready for Development
Low to Moderate
24,000 Planned Lifestyle
Communities
Low
85,000 Timber Sales and
Recreational Leases
Low
121,000 Total Real Estate Acres, 94 Projects

*Includes ventures

Find out more detailed information about our real estate segment in the downloadable summaries highlighted on this page.

Real Estate - At-A-Glance
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Multifamily - At-A-Glance
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Download 'Real Estate4Q13Final.pdf'

Real Estate - At-A-Glance

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2.3 mb

Download 'Multifamily1Q2014Final.pdf'

Multifamily - At-A-Glance

Document info

2.1 mb