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Current Projects    Properties for Sale

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Arizona
Tangerine Crossing

Location: Tucson, AZ

Description: 84 lots

Links:
California
Maricel

Location: San Diego, CA

Description: 85 entitled undeveloped lots

Link: http://www.davidsoncommunities.com
Melrose

Location: Los Angeles, CA

Description: Rezone existing apartment use to 45 small lot detached

Link: N/A
Sentinels at Del Sur

Location: San Diego, CA

Description:
  • 4 Finished homes
  • 7 improved lots
  • 21 home sales
Link: http://www.davidsoncommunities.com
Silver Lake

Location: Los Angeles, CA

Description: Rezone existing apartment use to 70 small lot detached paper lots

Link: N/A
Suncrest at Riverwalk Village

Location: Riverside, CA

Description:
  • 14 partially completed homes and 3 models
  • 42 Finished Lots
Link: http://www.artisancommunities.com
Vintage at The Crosby

Location: San Diego, CA

Description: 43 rough graded lots in Master Planned Community

Links:
Colorado
Banning Lewis Ranch

Location: Colorado Springs, CO

Description:
  • 908 developed and partially developed lots
  • 2,150 acres over six villages for +/-8,000 lots
Link: http://banninglewisranch.com

Oakwood Homes

Location: Denver, CO

Description: A variety of Master Planned Communities of over 7,000 lots

MREC Role: Equity partner, Owner

Status: Ongoing developer/builder of MPC’s and Homes

Builders: N/A

For Sale: Selling Single Family Homes, Twin Homes and Townhomes

Link: http://www.oakwoodhomesco.com

Promontory Pointe

Location: Monument, CO

Description: 267 developed and partially developed lots in six phases

Link: http://www.promontorypointehomes.com
Delaware
Breakwater

Location: Lewes Beach, DE

Description:

  • 85 VDLs and PDLs
  • Planned Community
Partner: Ocean Atlantic Companies

MREC Role: Equity partner

Status: Approximately 100 homes are currently built and lived in and all major amenities have been completed

Builders: Schell Brothers

For Sale: Selling Single Family, Twin Homes, and Townhomes

Link: www.schellbrothers.com

Florida
Cedar Bay

Location: Jacksonville, FL

Description: 153 Developed Lots and Homes

Links:
Heron's Walk

Location: Jacksonville, FL

Description:
  • 41 developed lots
  • 2 acres of commercial land
Link: http://www.richmondamerican.com
Trilogy

Location: Groveland, Orlando, FL

Description:
  • 371 Developed Lots & Homes
  • 484 Future Paper Lots
  • Active Adult Master Planned Community
Link: http://www.trilogylife.com
Georgia
MF Georgia I, LLC Portfolio of Assets

Location: Atlanta MSA

Description:
  • 21 projects consisting of 630 finished or partially finished lots
  • Over 400 acres of raw land
  • Large planned communities and undeveloped land parcels, both residential and commercial
For Sale: For additional information, please contact Corina Ghita at CGhita@mrec.com.
MF Georgia II, LLC Portfolio of Assets

Location: Atlanta MSA

Description:
  • 60 residential land projects consisting of 1300 finished or partially finished lots
  • Over 1,000 acres of raw land
  • Residential development assets from a handful of VDLs
  • Large planned communities and undeveloped land parcels, both residential and commercial
For Sale: For additional information, please contact Corina Ghita at CGhita@mrec.com.
Illinois
MF Illinois I, LLC Portfolio of Assets

Location: Chicago, Central Illinois and Western Indiana

Description:
  • Handful of remaining properties consisting of 120 finished or partially finished lots
  • Retail strip center
  • 100 acres of raw land
  • Large planned communities and undeveloped land parcels, both residential and commercial
For Sale: For additional information, please contact Rick Hillard at RHillard@mrec.com.
North Carolina
Brightleaf

Location: Durham, NC

Description:
  • 87 developed lots
  • 30 partially developed lots
  • 795 undeveloped lots
  • PUD located in the Raleigh MSA, near the Research Triangle Park (RTP)
Links:
Kellswater Bridge

Location: Kannapolis, NC

Description:
  • 597 Lots
  • 229 developed lots
  • 29 partially developed lots
  • 339 undeveloped lots
Link: http://www.kellswater.com
Legacy Lakes

Location: Pinehurst, NC

Description:
  • 598 Lots
  • Master plan golf course community
Link: http://www.legacylakes.com
Old Stone Crossing

Location: Charlotte, NC

Description: 56 lots

Link: http://www.ryanhomes.com
Ramblewood at North Hills

Location: Raleigh, NC

Description:
  • 61 partially developed lots
  • 13 finished homes (7 condos, 6 townhomes)
  • Subdivision
Link: http://www.ramblewoodraleigh.com
Southcliff

Location: Asheville, NC

Description:
  • 80 developed lots
  • 81 partially developed lots
  • 28 undeveloped lots
  • Gated subdivision
Link: http://www.southcliffasheville.com
Summers Walk

Location: Charlotte, NC

Description: 93 lots

Links:
TidalWalk

Location: Wilmington, NC

Description:
  • 182 developed lots
  • 3 undeveloped lots
  • Subdivision located on the Intracoastal Waterway, Wilmington peninsula
Links:
South Carolina
MF South Carolina I LLC Portfolio of Assets

Location:
  • South Carolina: Charleston, Hilton Head, Myrtle Beach, Columbia
  • North Carolina: Sapphire, Columbus, Supply
Description:
  • 100 residential commercial properties consisting of over 200 finished or partially finished lots
  • Commercial parcels and over 1,000 acres of land
For Sale: For additional information, please contact Rick Hillard at RHillard@mrec.com.
Texas
Harmony

Location: Houston, TX

Description: 53 finished lots (sold), 2,000 undeveloped and partially developed lots, 36 acres of commercial lots

Partner: Land Tejas

MREC Role: Equity partner

Status: Under Development, Builders are actively selling homes

Buyers: Darling Homes, Highland Homes, Lennar, Ashton Woods, Perry Homes, Westin Homes

For Sale: Selling finished lots to homebuilders, bulk land sales, and commercial land sales

Link: http://www.harmony-houston.com/
Mirabella

Location: Houston, Texas

Description:
  • 1,342 Undeveloped Lots
  • 700 Acres
Links: http://www.canyongate.com/communities/clwest/
Sierra Vista

Location: Houston, Texas

Description:
  • 1,274 Undeveloped Lots
  • 415 Acres
Links: http://www.canyongate.com/communities/sterling/
Utah
Santorini Village

Location: South Jordan, UT

Description: 82 single family Residences and 117 townhomes

Partner: DAI/Candlelight Homes

MREC Role: Equity partner

Status: Under development

For Sale: Selling houses to end buyers

Links: http://www.daiutah.com/candlelight-homes.php

Virginia
Leesburg Crossing

Location: Leesburg, VA

Description: 350 undeveloped lots

Partner: Lansdowne Development

MREC Role: Equity partner

Status: In approval process

Buyers: NVR

For Sale: Selling finished lots to homebuilders

Shenandoah

Location: Winchester, VA

Description: 86 Improved Lots, 1,674 unimproved lots

Partner: Lansdowne Development

MREC Role: Equity partner

Status: Improving Land, Selling Lots

Buyers: NVR and Shea Homes

For Sale: Selling finished lots to homebuilders

Links:
Washington
Woodbury Crossing

Location: Olympia, WA

Description: 339 lots

Links:
Wisconsin
Cathedral Point II

Location: Madison, WI

Description: 262 undeveloped lots single-family lots, 6 undeveloped townhome lots, 24 unit apartment pad

Partner: Veridian Homes

MREC Role: Equity partner

Status: Under development

For Sale: Constructing and selling homes

Link: http://www.veridianhomes.com/
Meadow Crossings

Location: Madison, WI

Description: 70 finished single-family lots, 159 partially developed lots

Partner: Veridian Homes

MREC Role: Equity partner

Status: Under development

For Sale: Constructing and selling homes

Link: http://www.veridianhomes.com/


Investment Statistics
# of Investments 30
Joint Ventures 18
# of Projects 400
States Invested In 15
Institutions Purchased From 37
# of Investment Partners 12
# of Lots/Houses 24,000
Developable Acreage 9,000
Commercial Square Footage 116,000
Total Committed Investment $376,000,000
UPB Purchased $1,105,300,000
Revenues Projected $1,550,000,000