TRI Pointe Homes Receives $150M in Growth Equity Capital

TRI Pointe Homes, LLC, a Newport Beach, CA-based homebuilder, has entered into a strategic agreement with an affiliate of global private equity firm Starwood Capital Group Global, LP, to receive $150m in growth equity capital.
The company will use the proceeds from the financing to expand its homebuilding operations in California and the Western Region. TRI Pointe intends to seek market opportunities within an expanded geographic footprint and build a profitable platform that delivers more than 1,000 homes a year within the next five years.
The company is currently building single-family home communities in Irvine, Chula Vista, Riverside and Oceanside, California.
TRI Pointe was established in 2009 by Doug Bauer, Thomas Mitchell and Michael Grubbs, three executives who have worked together for over fifteen years in the homebuilding and real estate development industries.

Commenting on the transaction, Douglas Bauer, CEO of the company, said: “Our alliance with Starwood Capital Group provides us with a capital structure and transaction pipeline to take advantage of local and regional market opportunities”.

FinSMEs

30/09/2010

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