News Feed Item
BR Homebuilding Group, L.P. Announces Acquisition of Scott Felder Homes
|By PR Newswire
|September 3, 2014 08:45 AM EDT
PLANO, Texas, Sept. 3, 2014 /PRNewswire/ -- The BR Homebuilding Group, L.P., a newly formed holding company founded by long-time homebuilding veteran Bobby Ray, today announced the acquisition of award-winning Scott Felder Homes, based in Austin, Texas. Scott Felder Homes builds in 19 communities throughout the Austin and San Antonio, Texas areas. In the twelve months ending December 31, 2014, Scott Felder Homes is expected to have revenues of approximately $130 million on 265 home closings. Scott Felder Homes owns or controls over 1,000 finished lots.
Scott Felder Homes was named Homebuilder of the Year in Texas in 2012 and 2013 and was named Homebuilder of the Year in Austin in 2012, 2013, and 2014. The Austin and San Antonio operations will continue to build under the prestigious Scott Felder Homes' name. Co-founder Scott Felder will have a consulting agreement with the company, and co-founder Steve Krassoff will continue as president in charge of all homebuilding operations of Scott Felder Homes.
"We are excited to bring Scott Felder Homes into our group as our first acquisition," Ray said. "Scott Felder Homes sets a high standard with an outstanding reputation, a profitable business model, and an experienced management team. This acquisition will provide a platform for our further growth in Texas."
United Development Funding IV (NASDAQ: UDF), a Texas-based residential development finance REIT that provides capital solutions to homebuilders and developers, will provide a portion of the acquisition financing through a note which can be converted into an equity interest in the homebuilder. UDF IV COO Stacey Dwyer commented, "Participating in the acquisition financing with BR Homebuilding Group allows UDF IV to remain focused on its core lending business, while the conversion feature also provides our shareholders the potential upside of a homebuilder investment. We continue to believe that the homebuilding industry is in a multi-year recovery that will be driven by jobs and economic improvement, dynamics that are already in place in the Austin and San Antonio markets. Scott Felder Homes is one of the best homebuilders in the industry and reflects the quality of our relationships."
Scott Felder Homes President Steve Krassoff said, "The BR Homebuilding Group is a perfect fit for our company as we grow. BR Homebuilding Group's executives complement our Scott Felder Homes' team. BR Homebuilding brings a broad array of homebuilding and capital market experience. We look forward to the synergies of our relationship with UDF IV and the access to capital and finished lots."
Bobby Ray, President of BR Homebuilding Group, L.P., is a trustee of UDF IV, and Hollis Greenlaw, the CEO and a trustee of UDF IV, is an investor in BR Homebuilding Group, L.P.
About BR Homebuilding Group
BR Homebuilding Group was formed in 2014 to conduct homebuilding operations in the largest homebuilding markets of Texas, Florida, North Carolina, South Carolina and Georgia. Entry into those markets may be through acquisitions of successful and seasoned homebuilding companies or through new start-up operations. Bobby Ray, a prominent homebuilding executive, is the CEO and Chairman, as well as one of the founders. Michael Moore, CFO, is an accomplished financial executive with extensive experience working as a consultant and as the CFO of one of the nation's largest private builders.
About Scott Felder Homes
Scott Felder Homes is one of the premier homebuilders of Central Texas, with a reputation for integrity, diversity, outstanding customer service and attention to detail. Scott Felder Homes has been honored with the "Volume Builder of the Year" award in 2012, 2013 and 2014 by the Homebuilders Association of Greater Austin and in 2012 and 2013 by the Texas Association of Builders.
About United Development Funding IV
United Development Funding IV is a publicly traded Maryland real estate investment trust listed on The NASDAQ Global Select Market. UDF IV was formed primarily to generate current interest income by investing in secured loans and producing profits from investments in residential real estate. Additional information about UDF IV can be found on its website at www.udfiv.com. UDF IV may disseminate important information regarding its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.
SOURCE BR Homebuilding Group, L.P.
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace.
Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
May. 31, 2016 05:45 PM EDT Reads: 1,765
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY.
Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
May. 31, 2016 05:15 PM EDT Reads: 991
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things!
Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
May. 31, 2016 05:00 PM EDT Reads: 2,146
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some...
May. 31, 2016 05:00 PM EDT Reads: 3,325
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector.
In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
May. 31, 2016 04:45 PM EDT Reads: 2,657
"What we see what happens when you have a completely networked society and the potential to now drive the value creation and the collaboration and the ecosystems that are possible when you start to be able to connect people and industries together in ways that have never been possible before," explained Esmeralda Swartz, VP of Marketing Enterprise & Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
May. 31, 2016 04:45 PM EDT Reads: 1,892
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
May. 31, 2016 04:45 PM EDT Reads: 3,213
How will your company move to the cloud while ensuring a solid security posture? Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is ...
May. 31, 2016 04:30 PM EDT Reads: 968
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY.
AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
May. 31, 2016 04:00 PM EDT Reads: 2,726
SYS-CON Events announced today that Zerto will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY.
Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clou...
May. 31, 2016 03:50 PM EDT Reads: 269
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY.
Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
May. 31, 2016 03:45 PM EDT Reads: 2,171
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
May. 31, 2016 03:00 PM EDT Reads: 2,044
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure.
The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
May. 31, 2016 02:45 PM EDT Reads: 880
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY.
IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
May. 31, 2016 02:45 PM EDT Reads: 1,755
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York.
“CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
May. 31, 2016 02:30 PM EDT Reads: 1,499