New Division President Rich Rodriguez Brings Local Knowledge and Expertise in the Nation’s Largest Homebuilding Market
DALLAS, TX (December 11, 2018) – TRI Pointe Group (NYSE: TPH), one of the top ten largest public homebuilders in the United States based on equity market capitalization, announced today that it is expanding its Texas footprint with the acquisition of Dallas-based homebuilder Dunhill Homes and its 55+ brand Nathan Carlisle Homes, both Winchester Carlisle Companies, for a cash purchase price of approximately $60 million.
With more than 300 homes expected to be delivered for the full year 2018 and nearly 1,500 lots owned or controlled as of December 11th, 2018 in the Dallas-Fort Worth region, the acquisition of Dunhill Homes provides TRI Pointe with a strong and instant presence in the No. 1 homebuilding market nationally with both entry-level, first move-up and 55+ communities(1).
Effective January 1, 2019, Dunhill Homes and Nathan Carlisle will begin operating under the name of Trendmaker Homes, which is TRI Pointe’s established regional homebuilding brand in Houston and Austin.
“When researching entry into the Dallas-Fort Worth market, our goal was to identify a customer-driven, best-in-class local company with a strong leadership team with the same kind of values, mission and vision that defines TRI Pointe,” said TRI Pointe Group CEO Doug Bauer. “Seeing a close alignment of culture and philosophy, it quickly became clear that company was Dunhill Homes. Our newest division will benefit from the financial resources, economies of scale, thought leadership and research & development capabilities of a national organization, while TRI Pointe Group will gain another quality, regional homebuilding division with strong leadership under Rich Rodriguez, who has been Dunhill Homes’ and Nathan Carlisle’s president since 2016, as well as the agility, local insight and trusted relationships that create a unique advantage in the marketplace in the entry-level, first move-up and 55+ buyer segments.”
TRI Pointe Group’s strategic expansion capitalizes on the Dallas and Fort Worth housing markets, which ranked in the top five nationally for population growth in 2017(2). As of September 2018, total employment in Dallas had increased nearly a full percentage point year over year to 3.5 percent, and Fort Worth’s employment growth has also been strong, increasing 2.8 percent(3). Additionally, the Dallas-Fort Worth metro area has a significantly higher percentage of its population in the 25-to-44 age cohort, a prime home buying demographic(1).
“The Dallas-Fort Worth metro area is attractive in many ways, from its impressive business growth and employment opportunities to its strong housing affordability,” said Rodriguez, the new division president of Trendmaker Homes Dallas-Fort Worth, who brings with him 20 years of real estate experience in homebuilding, development and commercial construction. “With a population growth that is twice the national rate, business climate and its many other advantages, the Dallas-Fort Worth region presents a tremendous opportunity for TRI Pointe Group to bring its successful homebuilding formula to a fertile, high-growth residential market.”
Rodriguez has held senior leadership positions with several national and regional homebuilders, including Centex, Pulte, John Laing Homes and History Maker Homes. In 2007, the United States Naval Academy graduate and current Deputy Commander of Naval Special Warfare Command in Coronado, California, led Emaar Dubai through the construction of the Burj Khalifa, the world’s tallest building, and the Dubai Mall, the largest indoor mall in the world.
About TRI Pointe Group®
Headquartered in Irvine, California, TRI Pointe Group, Inc. (NYSE: TPH) is a family of premium, regional homebuilders that designs, builds, and sells homes in major U.S. markets. As one of the top 10 largest public homebuilding companies by equity market capitalization in the United States, TRI Pointe Group combines the resources, operational sophistication, and leadership of a national organization with the regional insights, community ties, and agility of local homebuilders. The TRI Pointe Group family includes Maracay™ in Arizona, Pardee Homes® in California and Nevada, Quadrant Homes® in Washington, Trendmaker® Homes in Texas, TRI Pointe Homes® in California, Colorado and the Carolinas, and Winchester® Homes* in the Washington, D.C. area. TRI Pointe Group was recognized in Fortune magazine’s 2017 100 Fastest-Growing Companies list, named 2015 Builder of the Year by Builder magazine, and 2014 Developer of the Year by Builder and Developer magazine. The company was also named one of the Best Places to Work in Orange County by the Orange County Business Journal in 2016, 2017, and 2018. For more information, please visit www.TriPointeGroup.com.
*Winchester is a registered trademark and is used with permission.
About Trendmaker® Homes
Established in 1971, Trendmaker Homes is a premier builder of new homes in Houston, Austin and Dallas-Fort Worth in Texas. Over the decades, Trendmaker has defined the concept of home for generations of Texans. The company focuses on the needs and desires of discriminating home buyers through innovative designs and customer service. Trendmaker’s logo, the iconic “T,” is more than a symbol of a premier home; it represents nothing less than a superior home buying experience. Since its inception, Trendmaker has delighted Texas families with exceptional homes. As a result, the company has earned four consecutive years of distinctions from Professional Results in Sales & Marketing (PRISM). Trendmaker Homes is a member of TRI Pointe Group® (NYSE: TPH), a family of premium regional homebuilders. For more information about Trendmaker Homes, please visit www.TrendmakerHomes.com.
(1) Source: Emerging Trends in Real Estate 2019
(2) Source: U.S. Census Bureau
(3) John Burns Real Estate Consulting/September 2018