(MENAFN- EIN Presswire)
Wilbow Corporation is a Dallas-based residential land development firm.
Land Acquisition strategy by Wilbow Corporation starts strong with two major land bank transactions
The favorable combination of our development expertise and construction financing capability makes Wilbow a great fit for growth-minded Dallas-Fort Worth and Houston home builders.” - Jason Massey, President at Wilbow Corporation
DALLAS, TX, UNITED STATES, September 18, 2024 /EINPresswire / -- Wilbow Corporation , a Dallas-based residential land development and investment firm, announced it has closed on a land banking acquisition of more than $40 million on behalf of K. Hovnanian , a national homebuilder. The land transaction, representing 237 lots, was purchased from Perry Homes in the Green Meadows master planned community in Celina, Texas. With this land bank transaction Wilbow has closed on land acquisitions of roughly $80 million in just 90 days.
“We're investing heavily into land and lot banking so more of our homebuilder partners can take advantage,” says Jason Massey, President at Wilbow Corporation.“The favorable combination of our development expertise and construction financing capability makes Wilbow a great fit for growth-minded Dallas-Fort Worth and Houston home builders.”
The acquisition and development (A&D) land bank structure enables Wilbow to purchase land and provide development financing for builders to self-develop or fee-develop finished lots. As an A&D land bank for K. Hovnanian, Wilbow will provide construction financing to deliver finished lots.
Wilbow first announced its foray into land and lot banking in June to increase the company's land portfolio and support its homebuilder partners, while maintaining a developer presence. Its first land acquisition was a $31 million purchase for D.R. Horton. The land parcel is planned to be developed as Morningstar North, an extension of the highly successful Morningstar neighborhood in Aledo, Texas.
Wilbow would like to thank Southside Bank, The Watson Firm, Liechty McGinnis Berryman Bowen and Jackson Walker LLP for their efforts in closing the Celina land acquisition.
Both Wilbow Corporation and Wilbow Group were founded by William Bowness and are owned by the Bowness family. For more information on Wilbow's leadership team and communities, visit .
# # #
ABOUT WILBOW
Established in 1988, Dallas-based Wilbow Corporation develops distinctive single-family home communities across the DFW and Houston metros. Wilbow Corporation is an independent subsidiary of the Melbourne, Australia-based Wilbow Group, owned by property developer William Bowness and his family. Learn more at .
Renee Cossman
CossmanPR, LLC
...
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN18092024003118003196ID1108688580
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.