DENVER and CHARLOTTE, N.C.—North Carolina-based Mountain Real Estate Capital (MREC) has entered into a strategic partnership with Oakwood Homes, Colorado's largest privately held homebuilders. The $100 million-plus transaction provides MREC, one of the largest U.S. residential real estate investment firms, with a major market presence in one of the strongest homebuilding markets in the country.
Mountain is providing this new Oakwood Homes partnership with strategic equity capital to accelerate its growth and expand into new markets. This equity capital will drive the homebuilding company's expansion both within Colorado, and in other regions, including its recent entry into Omaha.
“Oakwood has clearly developed a competitive edge in their marketplace and continued to reinvent themselves with superior product and market positions during the downturn. Together, we will be positioned to now take advantage of the growing market opportunities throughout the Midwest and Western markets,” said Peter Fioretti, chairman and CEO of MREC.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
