wheelock_communities

Wheelock Acquires 6,000-acre Tract Near Orlando

Mon, 03 Jan 2022 23:59:19 GMT

Wheelock Communities recently completed the purchase of 6,000 acres in south Osceola County, Florida, known as Green Island Ranch, for $150 million. In partnership with Osceola County-based Gentry Land Company, Wheelock plans to develop the land which is entitled for a premier mixed-use development.

Owned by the Partin family for more than 100 years, Green Island Ranch was once part of the largest ranch east of the Mississippi River and now is the county’s largest single land sale in more than a decade. The property is adjacent to the Florida Turnpike and has more than two and a half miles of frontage on Lake Tohopekaliga, the seventh-largest lake in Florida.

In 2008, a Development Regional Impact (DRI) plan for 13,000 residential units with additional commercial and mixed-use projects was approved on the land. Subsequently, the Osceola County Commission added the South Lake Toho Conceptual Master Plan (SLTCMP) to the Osceola County Comprehensive Plan, in an effort to guide future growth and development within the South Lake Toho planning area. The SLTCMP provides a balance of social, environmental and economic sustainability achieved through long-range, large-scale planning. As a result, the Green Island Ranch land will support nearly 17,000 residential units, recreational amenities, more than 5 million square feet of commercial, office, and industrial uses, and 500,000 square feet of civic uses to create a flexible environment to meet the lifestyle needs of future residents.

“I am proud of our development team that worked hard to make this deal happen,” said Dan Green, president of Wheelock Communities. “We will practice good land stewardship as we guide the property through the next phases of development.”

“This is a long-term project with tremendous potential and major regional impacts,” said Reed Berlinsky, president of Gentry Land Company. “Our immediate focus will be on developing the initial neighborhoods where infrastructure is currently available.”

Wheelock Communities and Gentry Land Company have a successful history of working together since 2010 when they developed Randal Park in southeast Orlando, followed by the award-winning master-planned community of Starkey Ranch 30 minutes north of Tampa International Airport.

Wheelock and Ronto Announce Rosewood Residences Lido Key

Thu, 16 Sep 2021 18:42:44 GMT

Rosewood Hotels and Resorts today announced the brand's first stand-along residential project spearheaded by luxury real estate developer The Ronto Group and capital partner Wheelock Street Capital. The 65-unit luxury condominium project is located on Lido Key off the coast of Sarasota, Florida.

Rosewood Residences Lido Key will occupy 3.5 prime acres of beachfront real estate. The building is designed by Miami-based Swedroe Architecture, with interiors spearheaded by New York-based Lillian Wu Studio. Combining exquisite Gulf of Mexico views with unmatched amenities and services, each of the property’s 65 residences will be designed in accordance with Rosewood’s guiding A Sense of Place® philosophy, wherein the sensibilities of the locale inspire the distinctive style and programming provided at each respective Rosewood destination.

The residences will average approximately 4,200 square feet in size and showcase state-of-the-art finishes and features. The onsite amenities will include a private restaurant and chef services for in-residence dining and catering, world-class fitness center with options for private training and yoga sessions, outdoor pools, massage rooms, private guest suites with housekeeping service, lounge featuring library and game room, and a 24-hour concierge all managed by Rosewood. Pricing has not yet been announced.

Wheelock's Starkey Ranch Earns "Top 50" Status

Tue, 14 Jan 2020 15:02:25 GMT

Starkey Ranch Ranked Best-Selling Community in Tampa Bay

For the second year in a row, Starkey Ranch achieved "Top 50" status in the prestigious annual sales ranking of master-planned communities conducted by John Burns Real Estate Consulting, LLC.

Starkey Ranch builders sold 450 homes in 2019, placing the community at #30 natonally in the rankings, and #1 in the Tampa Bay metro market. In 2018, Starkey Ranch was ranked #29 with 437 sales. Since home sales began in May of 2015, the community has logged 1,457 new home sales. Current builders include Taylor Morrison, Homes by Westbay, M/I Homes and Pulte Homes.

Read the full story HERE .

Wheelock Acquires Hidden Creek Country Club in Reston

Wed, 25 Oct 2017 14:10:30 GMT

Wheelock Acquires Hidden Creek Country Club in Reston

Wheelock Communities today announced its acquisition of Hidden Creek Country Club, a private golf club in Reston, Virginia, from Fore Golf Services. Fore Golf will continue to manage the property. Hidden Creek includes a 36,000 square-foot clubhouse, an 18-hole course, swimming pool, and indoor and outdoor tennis courts.

Over the next few years, Wheelock will work in partnership with the Reston community and Hidden Creek club members to explore potential changes to the property that could provide the Reston community with additional public amenities, environmental benefits and new housing choices.

“Hidden Creek Country Club provides us with a unique opportunity to be a part of the nationally recognized and highly respected Reston community,” said Wheelock principal Dan Green. “We look forward to being an engaged member of the community and adding to what makes Reston such a special place to live, work and visit.”

Wheelock Sells Devonshire to Haynes Development

Tue, 31 Jan 2017 15:07:12 GMT

Wheelock Sells Devonshire to Haynes Development

Wheelock Street Capital announced today it has sold the remaining land assets of Devonshire, a 925‐acre Dallas‐area master‐planned community, to Haynes Development Company and Avanti Properties Group. The sale included 119 finished lots, 241 lots under development and 1,350 future lots.

Wheelock acquired land assets and partially completed lots at Devonshire in early 2014 from Hunt Properties. At that time about 250 homes had been built and sold by home builders. In the subsequent three years, Wheelock brought in four new builders to expand the range of home plans offered to buyers. Builders have sold 412 homes in the past 36 months at Devonshire, at prices ranging from the low $200,000s to the low $400,000s.

Builders currently selling in Devonshire include Highland Homes, Bloomfield Homes, Gehan Homes, Pulte Homes and Beazer Homes. Devonshire is located 20 miles east of Dallas, in the suburb of Forney just of Highway 80 at FM 548. The community was established in 2008 and features a resort‐style clubhouse and pool complex, amphitheater, playgrounds, trails and ponds.

Wheelock became a major player in Texas residential development in 2010 when it purchased 3,200 lots in partnership with McGuyer Homebuilders (MHI). Wheelock went on to acquire and develop master‐ planned communities in the Austin, San Antonio, Houston and DFW markets. In 2015, Wheelock sold the Canyon Falls community in Flower Mound and Sweetwater in Austin to Newland Communities. It sold Stillwater Ranch in San Antonio to RSI Communities late last year.

Haynes Development Company has been developing residential and mixed‐use projects in the North Texas region for more than 30 years and is currently involved in six residential communities in the DFW metroplex. Avanti is a national land investment firm based in Winter Park, FL, and is currently active in six community developments in Houston and Dallas.

Wheelock sells Stillwater Ranch to RSI Communities

Fri, 15 Jul 2016 13:49:02 GMT

Wheelock sells Stillwater Ranch to RSI Communities

RSI Communities LLC, a California- and Texas-based homebuilder and developer, today announced its purchase of Stillwater Ranch, a master-planned community in San Antonio, from Wheelock Street Capital. Through the agreement, RSI takes on the roles of developer and homebuilder and is expected to build 780 new single-family homes on the remaining undeveloped land in the community.

Located on 830 acres in northwest San Antonio, Stillwater Ranch features an amenity center with a 6000 sq. ft. pool, fitness room, lighted tennis and basketball courts, shaded playground, a four-mile trail system, and a top-rated elementary school. Six homebuilders are currently offering new homes from the low $200,000’s to mid $400,000’s. RSI will continue relationships with the community’s existing builders to complete the projected final buildout of 2,300 homes.

New home sales began in Stillwater Ranch in 2007. Wheelock Street Capital acquired the community in early 2011 and has since repositioned the community, and developed more than 1,000 lots which have been sold to regional and national production homebuilders. In 2015 the real estate research firm Metrostudy ranked Stillwater Ranch the #1 selling community in San Antonio, and #23 in the nation, based on closings.

“Stillwater Ranch has been one of our company’s most successful master-planned communities,” said Mike Rafferty, Wheelock’s regional partner for Texas. “All of our builders have enjoyed excellent sales velocity over the past five years and we expect that trend to continue with RSI until the community is completed.”

NAHB names Starkey Ranch Community of the Year

Tue, 19 Jan 2016 14:47:02 GMT

Only winning community east of the Mississippi

ODESSA, Fla. -- The most prestigious competition in the home building industry, The Nationals, has named Starkey Ranch a silver award winner for its top honor - 2016 Master Planned Community of the Year. The Tampa Bay community was one of six contenders in North America for the award. The winners were announced at the International Builders Show, the annual conference of the National Association of Home Builders, in Las Vegas on January 19. This year The Nationals received over 1,300 entries across 57 categories.

“The Starkey Ranch team set out to create a place that truly stands out from other new-home communities, and this award validates our efforts,” says project director Matt Call. “We’re honored to be the only Community of the Year finalist east of the Mississippi.”

A team of judges selected the Community of the Year based on entries in seven categories—logo design, brochure, website, signage, sales center and landscape design. Starkey Ranch is designed and marketed as a place that connects residents with nature and with each other—honoring its Old Florida ranching roots, but providing the latest new-home designs, amenities and programs for active families of all ages.

Starkey Ranch is located on State Road 54, four miles west of the Suncoast Parkway in Pasco County. The community is approved for up to 5,050 residences, and is planned to include a 20-mile trail system, 150 acres of parks, a K-8 school, a public library, community theater, business park and commercial center.

Model homes by M/I Homes and Ryland Homes are now open, and additional models by Taylor Morrison and Homes by WestBay will open in the Spring of 2016. Prices begin in the upper $200,000s. The community Welcome Center and builder models are open Monday-Saturday from 10 a.m. to 6 p.m., Sunday from 12 to 6 p.m.

For more information go to StarkeyRanch.com or call 813-925-9777.

Wheelock sells John Wieland Homes to Pulte Group

Fri, 15 Jan 2016 14:45:08 GMT

Approximately 7,500 lots included in transaction

PulteGroup, Inc has completed the acquistion of the homebuilding assets of John Wieland Homes and Neighborhoods from affiliates of Wheelock Street Capital and the Wieland family. As part of the transaction, PulteGroup acquired approximately 7,400 controlled lots and 280 homes in backlog.

Headquartered in Atlanta, Wieland ranks among the country's 100 largest homebuilders and is a leading builder of luxury homes in Atlanta, Charleston, Charlotte, Nashville and Raleigh. In the 12 months ended September 2015, Wieland delivered approximately 565 homes at an average selling price of $495,000 and generated $280 million in revenue.

"Having worked for Pulte earlier in my career, I have a strong appreciation for the proud history, reputation for quality and dedicated professionals in each organization," said Gregory Huff, Chief Executive Officer of John Wieland Homes. "We look forward to joining a national homebuilder where we share the same beliefs with regard to delivering superior product quality and outstanding service to our customers."

Wheelock acquired John Wieland Homes and Neighborhoods in November 2012.

Boot Ranch ownership group meets PGA legend Hal Sutton

Mon, 14 Dec 2015 14:42:06 GMT

Boot Ranch owners meet PGA legend Hal Sutton

PGA legend Hal Sutton, the designer of the top-ranked Boot Ranch golf course in Fredericksburg, Texas, met with the community's ownership group in December 2015. From left: Jonathan Paul, Jeff Laliberte, Lawrence Settanni, Sutton, Rick Kleeman, Mark Enderle and Mike Rafferty.

Sutton is leading the team designing renovations to the bunkers and greens that will be completed later this year. The Boot Ranch course opened in May 2006. The 2,050-acre private Boot Ranch community was acquired by a partnership between Wheelock Street Capital and the Terra Verde Group in August 2015.

Wounded hero receives new home at Traditions

Tue, 27 Oct 2015 13:40:15 GMT

Operation Coming Home

U.S. Amy veteran Sergeant Kyle Snyder received the keys to his new Lennar home in Traditions at a community ceremony on October 27th. Snyder became the eleventh Hero Home recipient through "Operation Coming Home," a program organized by the Home Builders Association of Wake County. Wheelock Communities donated the lot, and Lennar coordinated donations of time and materials from their vendors.

Snyder was wounded in service by a suicide bomb explosion in Afghanistan and spent three years in recovery and rehabilitation. His new neighbors gave him a warm welcome to Traditions.

Traditions named Top North Carolina Community of the Year

Tue, 29 Sep 2015 13:37:54 GMT

Community gets top honors in NCHBA Stars Awards

Traditions at Wake Forest was voted the 2015 North Carolina Community of the Year by the North Carolina Home Builders Association. The honor was announced at the recent STARS Awards gala

Traditions was also honored with the Best Brochure for a Community award. The community has also won previous STARS Awards that include Best Recreation Center, Best Landscaping and Best Land Plan. Traditions offers homes crafted by the best builders in the Research Triangle region, with homes from the $190s to $800s. Learn more at TraditionsNC.com

Wheelock & Terra Verde Group acquire Boot Ranch

Thu, 20 Aug 2015 13:36:07 GMT

Private club community features top-rated Texas golf course

Wheelock Street Capital and Terra Verde Group today announced the acquisition of Boot Ranch, a 2,052-acre private master-planned community located in Fredericksburg, TX, from Lehman Brothers.

The acquisition includes Estate and Cabin home sites, a 55,000 square foot members-only clubhouse and village complex, a 4.5-acre pool and sports campus, an 18-hole Hal Sutton designed championship golf course, and a 34-acre golf practice park and executive par-3 course.

“The Texas Hill Country is a coveted second home and retirement destination, and Boot Ranch is the prime private-club residential offering for this market,” said Dan Green, Wheelock principal and head of land acquisitions. “With an infusion of new capital into this already remarkable property, there is significant potential to attract new residential members from throughout the state and beyond.”

Terra Verde Group founding partner Craig Martin said his firm was attracted to the property because it was hands down the best private golf community in the state of Texas. “Boot Ranch is the finest, most desirable community in the Hill Country,” said Martin. “Not only does the property boast the most beautiful views and the highest quality amenities but the area is surrounded with great wineries, restaurants, shops and outdoor activities.”

The new ownership group is set to begin immediately with a regional marketing outreach for the property. “Boot Ranch is an exciting high-end lifestyle real estate project within our strongest market, Texas,” said Mark Enderle, partner with Terra Verde Group. “Our successful and sound approach to structured property releases along with our substantial experience in the marketing and selling of amenity-rich, lifestyle communities make Boot Ranch a good fit for our company.”

A limited property release of estate home sites and luxury cabins will occur immediately and special purchase incentives will be offered through September on these properties. Additional amenity enhancements and new residential property offerings are scheduled for 2016.

Wheelock sells four communities to NASH-Newland

Tue, 31 Mar 2015 13:33:36 GMT

Wheelock sells four communities to NASH-Newland

WHEELOCK STREET CAPITAL, LLC announced today it has sold the remaining land assets in four master-planned communities to NORTH AMERICA SEKISUI HOUSE, LLC (NASH), the U.S. business operations unit and a full subsidiary of SEKISUI HOUSE, LTD., Japan's largest homebuilder and a leading diversified developer. NEWLAND COMMUNITIES, the development business of American Newland Communities, LLC. will join NASH in developing the communities, building on their strong history of success. The transaction was a significant one, representing some of the best-positioned communities in their respective markets.

Located in Texas and Colorado, the communities include more than 3,400 remaining acres that comprise entitled development potential for more than 4,600 single-family lots and 125 commercial acres. Terms of the transaction were not disclosed.

Two of the communities are located in the Denver metro area—Anthem Colorado in Broomfield and Inspiration Colorado in northern Douglas County. The Texas properties included in the transaction include Sweetwater in Austin and Canyon Falls, in the Dallas-Fort Worth area. Approximately 2,300 homes have already been sold in these communities, representing some of the most successful master-planned communities in their respective markets.

“Though we had not planned to sell these assets, NASH and Newland recognized the value our Wheelock Communities development team has created, and the potential that remains,” said Dan Green, Wheelock principal and head of land acquisition. “The combination of their focus and expertise provides a great recipe for continued value creation and success for these communities.” Wheelock’s residential land portfolio includes communities in Texas, Florida, California, Colorado, and North Carolina, as well as the Atlanta-based homebuilder John Wieland Homes and Neighborhoods.

Satoshi Yoshimura, President and Chief Operating Officer for NASH said of the transaction, “These assets allow us to expand our footprint in strategic markets that we believe are among the best in the U.S. We see tremendous growth potential in the markets and for the communities.” NASH and Newland develop and manage a portfolio of more than 30 active communities coast to coast. “Our team is ready to continue what has begun, and create great places people are proud to call home,” said Ted Nelson, Newland’s Central Region President, who will oversee the four communities for Newland.

About Wheelock Street Capital

Wheelock was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with over 25 years of broad real estate transaction experience across all major asset classes. Wheelock manages $1.4 billion of cumulative equity capital, and is currently investing its fourth fund and its second multi-investor discretionary opportunity fund. Wheelock’s first two funds were primarily funded by a single, private institutional investor. Wheelock will invest in a broad range of real estate assets throughout the United States. The fund may invest directly or with high quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings, and recapitalizations. www.wheelockst.com.

About NORTH AMERICA SEKISUI HOUSE

NORTH AMERICA SEKISUI HOUSE, LLC (NASH) was established in 2010 as the U.S. business operations unit and a full subsidiary of SEKISUI HOUSE, LTD., Japan's largest homebuilder and a leading diversified developer since 1960. SEKISUI HOUSE has built more than two million houses to date and expanded its operations to Australia, China, Singapore, and the U.S. NASH establishes joint ventures to build innovative and sustainability conscious master-planned and mixed-use communities across the US. NASH is headquartered in Arlington, Virginia. www.nashcommunities.com/ and www.sekisuihouse.co.jp/english/index.html.

About Newland Communities

Newland is a diversified real estate company leveraging a national platform and over 45 years of experience to perform challenging and diverse development, investment, management, and advisory services across a wide range of real estate. The company’s mixed-use development business, Newland Communities, actively owns, operates and develops premier residential master-planned, commercial, retail, and urban mixed-use real estate across the U.S. Headquartered in San Diego, Calif., Newland and its affiliated companies have completed, or have underway, more than 140 diverse real estate developments, more than 20 million square feet of commercial and retail space, and 175,000 residential units in 14 states. www.newlandcommunities.com.

Wheelock & Ronto announce Sarasota condo tower

Wed, 25 Feb 2015 14:31:29 GMT

624 Palm to feature 17 residences from $2 million

Wheelock and The Ronto Group of Naples, FL, have announced 624 Palm, a new luxury condominium community that will be located in one of Sarasota’s most desirable downtown neighborhoods. Situated on tony Palm Avenue with neighboring art galleries and restaurants, the striking glass building was designed by Alcides Santiesteban, principal with Santiesteban & Associates Architects of Tampa, Florida.

624 Palm will be an 18- story tower offering 15 full-floor residences of 4,155 square feet each, one half-floor residence of 3,079 square feet, and one 4,381 square foot two-level townhome. Prices will range from $2.1 to $4 million. Each residence will have a private elevator entry and garage parking. Buyers will experience expansive bay and city views from terraces located on all sides of the building. Amenities include summer kitchens, a fitness center, yoga terrace, a residents’ clubroom, spacious pool area with spa, fire table and a roof top terrace for entertaining and stargazing.

Santiesteban, the architect, says 624 Palm will enhance the downtown skyline with its use of soaring glass and curvilinear forms. “Residences at 624 Palm provide flexible open floor plans more typically associated with single family residences,” explained Santiesteban. “Expansive glass walls and oversized terraces allow for 360 degree views of downtown and the waterfront…we made sure to focus on the opportunity for indoor/outdoor living space which is so important to luxury buyers today.”

Located in the heart of downtown Sarasota, 624 Palm is just blocks from Burns Court and Main Street—offering residents convenient access to dining, cultural offerings and shopping.

Traditions wins big at North Carolina HBA STARS Awards

Wed, 10 Sep 2014 19:35:39 GMT

Community takes five major awards

Traditions at Wake Forest took top honors tonight with five awards at the North Carolina Home Builders Association annual STARS Awards. The event, held at the Omni Charlotte Hotel, acknowledges North Carolina builders and developers for outstanding marketing and advertising efforts.

The STARS Awards program honors the achievements of builders, associates, realtors, media and advertising professionals, and many others who make major contributions to the residential home building industry. Traditions at Wake Forest won Best Logo, Best Website, Best Landscape Design, Best Billboard Signage, and Best Sales/Information Center.

Wheelock acquires Jordan Pointe in Apex, NC from NVR, Inc.

Fri, 22 Aug 2014 15:55:22 GMT

Wheelock acquires Jordan Pointe in Apex, NC from NVR, Inc.

Wheelock Street Capital announced today it has acquired the 316-acre master-planned community of Jordan Pointe in Apex, North Carolina, from NVR, Inc., the parent company of NVHomes and Ryan Homes. The single-family development is approved for 440 residences, all of which will be built by NV and Ryan.

Jordan Pointe will be developed and marketed by Wheelock Communities and its local development partner, JPM South Development. Since 2011 the partnership has been developing Traditions, a 700-home community in nearby Wake Forest, North Carolina.

"We're proud to expand our investment in the Triangle market with a second high-quality community that's well located in the path of job growth,” JPM South principal John P. Myers. “The property is within 30 minutes of the region’s major employment centers—Research Triangle Park, UNC, Duke and downtown Raleigh.”

Jordan Pointe is located on the western boundary of the Town of Apex, known for its historic downtown and ranked the #9 Best Place to Live in America by CNN/Money in 2013.

Planned amenities include a junior Olympic pool, cabana, ball fields, gazebo and walking trails. Home sales are expected to begin in late 2015, with a broad range of prices and home sizes.

Wheelock donates Stillwater Ranch lot for Hero's new home

Fri, 04 Jul 2014 15:53:31 GMT

Lee Greenwood sings "God Bless the USA" at ceremony

As newly appointed ambassador for Helping a Hero, Grammy Award winner Lee Greenwood joined Stillwater Ranch, Chesmar Homes and Helping a Hero to give a wounded Marine a new home. Greenwood sang his own anthem, "God Bless the USA," at the July 2nd ceremony. Wheelock Communities, the developer of Stillwater Ranch, donated the land and Chesmar Homes built a beautiful home to meet special needs.

Cpl. (Ret.) Michael Egan, USMC, enjoyed a hero's procession to his new home at 7907 Cimarron Ranch. A crowd of cheering Stillwater Ranch neighbors, residents, friends, veterans from all military branches, Daughters of the Republic and local media greeted him. Kids waved signs that read "Welcome Home Marine" and "Thank You for Your Service."

Before Cpl. Egan was presented with the keys to his new home, heartfelt tributes were made about his service and sacrifice by friends and fellow veterans, Kelli Roberts and Lt. Riley. Following the tributes, with the use of his new prosthetic legs, Cpl. Egan walked into his beautiful new home.

Helping a Hero is an organization that builds specially adapted homes for our severely wounded heroes injured in Iraq and Afghanistan. To date, more than 100 homes have been awarded in 22 states. For more information, go to www.helpingahero.org.

Dallas Business Journal names Canyon Falls as "Deal of the Year"

Tue, 29 Apr 2014 15:49:20 GMT

Best single-family/planned community deal

The Dallas Business Journal named Canyon Falls, a 1,200-acre master-planned community in Denton County, as winner of the 22nd Annual Best Real Estate Deals of the Year in the “Single-Family/Planned Community Deal” category. Under development by Wheelock Communities, Canyon Falls is a master-planned community located between U.S. Highway 377 and I-35W, north of FM 1171, and spans three jurisdictions – Flower Mound, Northlake and Argyle.

“We’re elated to be recognized by the Dallas Business Journal for our Canyon Falls vision, the efforts undertaken to bring the project to life and our partners and home builders who are making it happen,” said Bret Pedigo of Manna Land, Wheelock’s local development partner. “Canyon Falls offers a community and lifestyle experience that is truly unique and special.”

Nine home builders are offering homes that range from 1,600 to 4,600 square feet from the $300s to the $600s. Builders are Ashton Woods Homes, Coventry Homes, Drees Custom Homes, Highland Homes, K Hovnanian Homes, Meritage Homes, Pulte Homes, Ryland Homes and Toll Brothers.

The Canyon Falls master plan includes a community clubhouse, resort-style pool, sports fields, and playgrounds. Home sites will maximize the views and hill country-like topography of the community, including more than 300 acres of natural open space, scenic bluffs and miles of trails along Graham Branch Creek. The community will be served by the Argyle and Northwest independent school districts. Canyon Falls is ideally located in the Dallas-Fort Worth metro area near rapidly growing North Texas employment centers and employers such as Alliance Airport, Dallas/Fort Worth International Airport and Texas Motor Speedway.

Sweetwater named Best Master-Planned Community at MAX Awards

Mon, 07 Apr 2014 15:47:28 GMT

Sweetwater named Best Master-Planned Community at MAX Awards

Sweetwater, the 1,400-acre new-home community in the Lake Travis area, received the top community award, "Best Overall Community (Over 300 Units)," at the 2014 Sales and Marketing (MAX) Excellence Awards annual event gala held Saturday, April 5, at the Hyatt Regency Austin.

The distinguished award, given by the Home Builders Association of Greater Austin, recognizes the achievement in community vision, planning, amenities and overall execution.

Sweetwater also took home two top marketing awards for "Best Radio Ad" and "Best Special Sales Promotion." Sweetwater’s award-winning radio commercial features music by Austin singer/songwriter Erin Ivey. The special promotion award was for the community’s $25,000 “Cash for College” giveaway last summer.

Developed by Wheelock Communities, Sweetwater is located off of Hwy 71 West, five minutes west of RR 620. The community offers new homes from the mid $200s to $700s by leading builders including Ashton Woods, Chesmar, Coventry, David Weekley, River Oaks, Ryland, Taylor Morrison and Drees Custom Homes. The Welcome Center and model homes are open daily. For more information, visit www.sweetwaterliving.com.

Wheelock receives five awards at The Nationals

Tue, 04 Feb 2014 15:51:51 GMT

Anthem and Sweetwater recognized by NAHB

Two Wheelock communities, Sweetwater in Austin and Anthem Colorado in Broomfield, tonight received a total of five Silver marketing awards at The Nationals--the awards competition of the National Association of Home Builders (NAHB) held at the International Builders Show in Las Vegas. This year's competition received more than 500 entries.

The Sweetwater Welcome Center won in the Best Sales or Information Center category, which recognizes building design, function and the guest experience. Sweetwater’s entry for Best Radio Commercial features music by Austin singer/songwriter Erin Ivey. And the Best Special Promotion award was for the community’s $25,000 ‘Cash for College’ giveaway last summer.

Anthem won in the Best TV Commercial category for a video featuring residents of the Anthem Highlands community, and in the Master-Planned Community of the Year category.

Wheelock acquires Devonshire in Forney, TX from Hunt Properties

Tue, 07 Jan 2014 15:49:48 GMT

Second community added to Wheelock Dallas portfolio

Wheelock Street Capital announced today it has acquired the 925-acre master-planned community of Devonshire (www.devonshireliving.com) in Forney, Texas from Hunt Properties. The single-family development is partially built out and still has plans for future development including an on-site elementary school. The community is approved for 3,000 residences, of which approximately 250 have been built and sold.

"We're proud to expand our investment in the Metroplex with a second high-quality master-planned community that's affordably priced and well located in the path of job growth,” said Mike Rafferty, Wheelock’s regional partner for Texas. “Texas is our most robust market, and we continue to search for additional residential opportunities throughout the state.”

Devonshire will be developed and marketed by Wheelock Communities, which early last year began construction of Canyon Falls, a 1,200-acre community northwest of Dallas that was purchased in 2012. Canyon Falls will open for sales in the Spring of 2014. Day-to-day management of both projects will be handled by Southlake-based Manna Land, Wheelock's Dallas-area development partner. Manna Land’s Bret Pedigo has managed the Devonshire community since 2009.

Devonshire is located 20 miles east of Dallas, in the suburb of Forney just off Hwy. 80 at FM 548. The community was established in 2008 and home prices in Devonshire range from the mid $100s to the $400s. Builders in Devonshire include Highland Homes, Lillian Custom Homes, Altura Homes and LionsGate Homes. The community features a resort-style clubhouse and pool complex with an outdoor kitchen, an amphitheater, playgrounds, hike-and-bike trails, and catch-and-release fishing ponds.

Wheelock is developing two other Texas master-planned communities--Sweetwater in Austin and Stillwater Ranch in San Antonio and has additional land holdings in Houston.

Wheelock acquires Rocking Horse in Douglas County, CO

Mon, 06 Jan 2014 15:47:35 GMT

Wheelock acquires Rocking Horse in Douglas County, CO

Wheelock Street Capital announced today the acquisition of Rocking Horse, a 1,036-acre master-planned community in northern Douglas County, Colorado. The community has been approved for more than 1,800 single-family homes, of which approximately 150 have been built and sold to date. The seller was Rocking Horse Partners, LLC, and the purchaser is WS-RHA Development, LLC, a Wheelock affiliate.

“We see strong demand for quality master-planned communities in the southeast quadrant of the Denver metro market and liked the size and location of the Rocking Horse property,” said Jeff Handlin of Oread Capital and Development, the local operating partner for Wheelock Street Capital. Lennar was the original builder offering homes in Rocking Horse and was joined in 2013 by Meritage Homes. The average sales price of homes closed last year was in the low $400,000s. Amenities in place include full-size soccer fields, an inline hockey rink and sport court, tennis courts, a large playground, miles of trails, and neighborhood parks. When completed, the community is to have 323 acres of open space and a 13-mile trail system.

Over the next several years, additional neighborhoods will be developed in Rocking Horse that will be similar to the existing neighborhoods. The community is also planned to include future neighborhoods and amenities specifically for adults age 55 and older.

Wheelock entered the Denver market in 2011 with the acquisition of Anthem Colorado, a 1,700-acre master-planned community in Broomfield, which includes both Anthem Highlands and the 55+ community of Anthem Ranch.

Wheelock acquires prime site in downtown Naples, FL

Wed, 13 Mar 2013 14:43:40 GMT

Mixed-use Naples Square to rise on downtown site

A prime piece of vacant downtown Naples property once known as Grand Central Station was purchased today by Wheelock Street Capital. The Ronto Group of Naples will serve as Wheelock’s local development partner for the property, to be renamed Naples Square.

The 19.15-acre site is at the northwest corner of Goodlette-Frank Road and Fifth Avenue South. In 2005, the property was approved and slated for development of a mixed-use project called Renaissance Village, with 300 residential units and 205,000 square feet of commercial space, including a 1.9-acre adjacent site owned by Florida Gulf Coast University. Those plans were halted, however, by the downturn in the real estate market. In May 2012, the property, excluding the parcel owned by FGCU, was foreclosed by the lenders.

“We understand how important development of this land is as an economic catalyst for theCity and as a vital part of its Community Redevelopment Area,” said Wheelock principal Jonathan H. Paul. “We intend to spend the next several months carefully evaluating the best combination of high-quality residential, commercial and mixed uses that meet market demand and contribute to a prosperous, viable downtown.”

Anthony Solomon, executive vice president of The Ronto Group, said: “The planning process will focus on creating linkages with the surrounding area, promoting pedestrian activity, fitting into the fabric of downtown Naples, and reinforcing the role of the downtown as a community center and meeting place.”

Wheelock acquires Starkey Ranch in Pasco County, FL

Thu, 10 Jan 2013 15:41:40 GMT

Legacy ranch land approved for 5,050 residences

Wheelock Street Capital today announced the acquisition of approximately 1,080 acres in the Tampa Bay area from the Starkey Family, marking the first closing of a multi-year contract to purchase the 2,500-acre Starkey Ranch.

The Starkey acquisition represents the initial phase of a large-scale master-planned community development on the family’s cattle ranch located on State Road 54 in Pasco County, Florida. Pasco County recently approved the project allowing for the development of 5,050 residential units, 450,000 square feet of retail, office, and medical uses, 300,000 square feet of light industrial uses and 220 hotel rooms. Numerous amenities are planned, including a community center, new elementary and middle schools, and a district sports facility. The location also offers convenient access to the 18,000-acre Jay B. Starkey Wilderness Park, Tampa International Airport, Pinellas County beaches and the Westshore employment district. The project will be managed by Reed Berlinsky of Florida-based Gentry Land Company. Wheelock will begin marketing lots to builders in mid-2013 for delivery in 2014.

Wheelock acquires Stonehill Estates in Riverside County, CA

Wed, 09 Jan 2013 15:40:02 GMT

First entry into Southern California market

Wheelock Street Capital today announced the acquisition of the 132-acre Stonehill Estates property in western Riverside County, CA from Industrial Developments International.

Stonehill Estates is approved for 425 single-family detached homes and is located east of the intersection of Cantu-Galleano Ranch Road and Instersate-15 in the newly incorporated City of Jurupa Valley. Situated within the highly desirable Eastvale/Jurupa Valley Area of Riverside County, the project is well positioned to benefit from the strongly rebounding Inland Empire housing market and will offer future residents large, 7,200 square-foot lots and a 5-acre community park. The project will be managed by California land veteran Steve Thurtle. The seller was advised by Tom Dallape and Norm Scheel of the Hoffman Company.

Wheelock acquires John Wieland Homes & Neighborhoods

Fri, 16 Nov 2012 15:37:42 GMT

More than 5,000 lots included in transaction

John Wieland Homes and Neighborhoods (www.jwhomes.com) has closed a transaction with an affiliate of Wheelock Street Capital, resulting in the formation of a new company and positioning one of the country's leading home building brands for expansion. This transaction represents the sale of substantially all of the home building assets and related intellectual property of John Wieland Homes to a new joint venture, a partnership between the Wieland family and Wheelock Street Capital.

The new partnership will carry forward the John Wieland Homes and Neighborhood’s brand and will deploy significant new capital resources to drive the growth of one of the industry’s most respected names. Included in the transaction are approximately 300 homes and over 5,000 lots in high-quality neighborhoods across the Southeast. John Wieland will serve as the company’s chairman, directing strategy and providing valuable leadership, vision and support for the new joint venture.

“In Wheelock Street Capital, we’ve found a great partner with significant financial resources and expertise that will provide for many new opportunities for John Wieland Homes and Neighborhoods,” says John Wieland. “With this new partnership, we are exceptionally well positioned to take advantage of the budding recovery in the housing market, and I couldn’t be more confident in our future.”

Jonathan Paul, Managing Partner of Wheelock Street Capital, commented, “We are very excited about our joint venture and the opportunity to capitalize on the current housing rebound through Wieland’s quality brand and strong core positions in the most attractive southeastern markets. The joint venture’s high quality lot inventory, combined with a strong balance sheet for new acquisitions should allow for meaningful growth.

Wheelock acquires Canyon Falls in Dallas-Fort Worth

Fri, 27 Jul 2012 14:35:30 GMT

First entry into the Dallas market

Wheelock Street Capital announced today the acquisition of Canyon Falls (www.canyonfallstx.com), a 1,129-acre master-planned community north of Fort Worth, Texas from an affiliate of Highland Capital Management. Canyon Falls is located near the intersection of Interstate 35W and FM 1171 in the Town of Flower Mound, Town of Northlake, and extraterritorial jurisdiction of the Town of Argyle. The current development plan calls for approximately 1,750 single family homes, in addition to multifamily, retail and commercial uses.

Wheelock has been an active investor in the residential land market having closed on properties containing over 14,000 residential lots during the last 30 months. In addition to Canyon Falls, Wheelock is actively developing “best in class” master planned communities in Austin and San Antonio, Texas, and in Colorado, Florida and North Carolina.

The acquisition follows a lengthy entitlement process positioning Canyon Falls to be among the best master-planned communities in one of Dallas-Fort Worth’s top submarkets. Robust new home construction is supported by strong job growth in the Dallas-Fort Worth metropolitan area, high-quality public schools (Northwest ISD and Argyle ISD), and convenient transportation access.

Development activities are anticipated to begin by the end of the year, and Wheelock will soon announce the selection of some of DFW’s finest homebuilders to sell new homes in the initial neighborhoods.

Wheelock principal and head of land acquisitions, Dan Green, said of the transaction, “We are thrilled to add another master-planned community to our portfolio in Texas, and pleased to have Bret Pedigo and Manna Land as our local partner. The Canyon Falls acquisition is a timely investment in a location with a history of successful community developments.”

Wheelock acquires Anthem in Broomfield, CO from PulteGroup

Thu, 29 Dec 2011 15:33:26 GMT

First entry into the Denver market

Wheelock Street Capital announced today that it has completed the purchase of land approved for approximately 1,500 residences in Broomfield, Colorado from PulteGroup, Inc. (NYSE: PHM).

The all-cash transaction is for the remaining developed lots and undeveloped land in Anthem Colorado, a 1,700-acre master planned community in the northwest Denver metro area. The master plan includes the communities of Anthem Ranch and Anthem Highlands. Terms and conditions of the transaction were not disclosed.

“We are very proud of the Anthem Highlands and Anthem Ranch communities, which are known for their spectacular array of amenities and for being a great place to call home,” said Patrick Beirne, PulteGroup West Area President. “This sale is consistent with PulteGroup’s capital allocation strategy and overall focus on driving greater returns on invested capital.”

Beirne said PulteGroup is confident that Wheelock’s financial strength and understanding of master-planned community development will contribute to Anthem’s continued long-term success. “We’ve enjoyed working with Wheelock on this complex transaction and have been impressed with their professionalism and the quality of their team,” Beirne said.

Wheelock Principal Dan Green said that his firm recognized the extraordinary care with which Anthem Colorado had been planned and created. "We want to continue making Anthem the best place to live in the Front Range. And we look forward to working with builders eager to be part of this very popular community."

Green said that Wheelock’s Denver partner, Jeff Handlin of Oread Capital and Development, would manage Anthem’s future development.

Wheelock acquires Traditions at Heritage in Wake Forest, NC

Fri, 04 Nov 2011 14:31:04 GMT

First property in the North Carolina market

Wheelock Street Capital announced today the acquisition of Traditions at Heritage, a 364 acre master planned community located in Wake Forest, NC, a suburb of Raleigh. Traditions at Heritage is located on the HWY 98 By‐Pass approximately one mile east of Route 1A and to the north of Heritage Wake Forest. Once completed, the community will contain approximately 700 attached and detached homesites and is entitled for over 30 acres of commercial development. The acquisition marks Wheelock’s first land investment in the Raleigh Durham market.

Raleigh was ranked in July 2011 by Forbes as the #2 “next boom town in the US”, and the relative strength of its new home market reflects this. Wake Forest, in particular, has captured an increasingly large share of Raleigh’s new home construction activity, driven in large part by the success of Heritage Wake Forest, the Triangle’s #1 selling new home community. Traditions at Heritage is located near Heritage and is expected to fill the void in the market that will be left as Heritage completes build-out.

The property will be developed and managed by JPM South Development. Ground-breaking is scheduled for early 2012, with the first lot deliveries occurring in late 2012. The community will offer a wide range of housing options, with prices beginning in the mid to low $200s and reaching in excess of $500,000.

Wheelock principal and head of land acquisitions, Dan Green, said of the transaction, “We are extremely pleased to be adding such a well located community to our portfolio, and to be working with such a high quality partner as JPM South Development. The Raleigh Durham market’s demographics are among the strongest in the nation, and we look forward to seeking further investment opportunities in this region.”

Wheelock acquires Stillwater Ranch in San Antonio, TX

Thu, 26 May 2011 14:28:29 GMT

Firm makes third investment in Texas

Wheelock Street Capital announced today the acquisition of Stillwater Ranch, the #2 best-selling master-planned community in San Antonio. More than 2,300 residential units are planned. The property was acquired in two separate transactions from two lenders, and included a recapitalization with the property's existing ownership group.

Stillwater Ranch is located in northwestern San Antonio, near Alamo Ranch, on Culebra Road off Loop 1604. In 2010 MetroStudy ranked it #2 in the market for single-family housing starts. Home sales in Stillwater Ranch began in late 2007, and to date approximately 270 homes have sold. The investment included significant in-place infrastructure, including an amenity center and over 100 finished lots.

The acquisition marks Wheelock's third investment in Texas, following the Canyons of Sweetwater in Austin in November 2010, and the joint venture investment made with an affiliate of McGuyer Homes Inc of eight communities in Houston, Austin and Dallas in April 2010.

Wheelock acquires residential portion of Randal Park in Orlando, FL

Tue, 21 Dec 2010 14:57:38 GMT

Wheelock acquires residential portion of Randal Park in Orlando, FL

Wheelock Street Capital announced today the acquisition of the residential portion of Randal Park from Colonial Properties Trust. Randal Park is comprised of over 700 acres entitled to be developed into approximately 100 buildable acres of mixed-use commercial, and approximately 260 buildable acres of residential development. Colonial will retain the mixed-use commercial acreage, while Wheelock has purchased the residential portion, entitled for 1,400 dwelling units.

Randal Park is located in the highly desirable Lake Nona area in southeast Orlando near the newly constructed Lake Nona Medical City and the Orlando International Airport. Medical City will house over 4.5 million square feet of hospitals and medical research and education facilities, and it is anticipated that this development will bring 30,000 jobs to Orlando, of which 10,000 will be on-site. The Lake Nona area is also known for its highly ranked schools.

Wheelock contracted for Randal Park in April of 2010. They subsequently worked with the City of Orlando and its staff to re-entitle the property to better suit current market conditions, and to create a sustainable community consistent with the City’s vision. The new entitlements allow for residential product ranging from apartments and town homes to estate homes. Home prices will begin in the mid $100,000’s and will reach in excess of $500,000.

Wheelock principal and head of land acquisitions Dan Green said of the transaction, “We are extremely pleased to be investing in such a high quality project within this vibrant submarket. Our plan for Randal Park has been positively received by homebuilders and we believe it is well positioned to be one of the leading communities in Orlando.”

Wheelock acquires Sweetwater in Austin, TX

Mon, 22 Nov 2010 14:54:24 GMT

Austin community approved for 1,500 homes

Wheelock Street Capital announced today the acquisition of the Canyons of Sweetwater, a 1,400 acre-master planned community located in Austin TX. Wheelock anticipates developing approximately 1,500 residential lots on the property as well as commercial parcels along several miles of Highway 71 frontage. The property was acquired from an affiliate of Kansas City based Bank Midwest and a consortium of other lenders.

The Canyons of Sweetwater is located in the desirable Hill Country, about 20 miles west of downtown Austin. The community is in the top-ranked Lake Travis Independent School District, one of the best in Texas. A healthy local economy and strong demand for new homes in this submarket has helped other master-planned communities nearby, including Falconhead West and Steiner Ranch, approach full build-out. To meet robust public and private home builder demand for lot supply in the submarket, Wheelock anticipates moving forward with development and sales to builders within the coming months. The community will offer a wide range of single family housing options starting around $250,000, with custom home options in excess of $1 million.

Wheelock principal and head of land acquisitions Dan Green said of the transaction, “We are very pleased to add this property to our portfolio. We consider this acquisition to be “best in class” among future master-planned communities in Austin. This transaction is exemplary of our land investment strategy of owning well-located real estate in markets with significant long term growth potential.”