PHOENIX—Thomas Bradford Communities, a newly formed company founded by Peter H. Thomas and Mitchell Bradford, plans to acquire $100 million worth of multifamily assets throughout the Southwest. TBC will have offices in Phoenix and Newport Beach.
As the market continues to recover and grow, the company will focus on existing communities ranging from 50 to 400 units each. TBC's strategy is to purchase mature properties in desirable locations and reposition them into communities that inspire and promote an authentic lifestyle free of the usual conventions.
Thomas tells GlobeSt.com, “Phoenix is one of the most sought after markets. It's a strong residential area with good performance. I would prefer to put all our stakes in the Phoenix area.”
According to Thomas, TBC will be buying all C class properties. “You hope to buy right,” he says. “Buy at the right value and then you add the value.”
TBC is seeking to transform these C class properties into unique locations by improving design and function to appeal to everyone from millennials to empty nesters.
“We want these renters to think of our apartments as homes, not just as apartments,” says Thomas. “If we can make these homes secure and attractive and a better option than our competitors, then we're achieving our goal. We really want our residents to love where they live.”
TBC, Thomas says, is totally committed to its core values—honesty, integrity, teamwork and inspiration.
“You rely on your values to carry you through,” Thomas says. “We want to do a great job and leave a good footprint behind.”
Thomas is a Canadian entrepreneur, investor, author, public speaker and philanthropist. A real estate developer and lender in North America, he has developed several billion dollars of projects, including shopping centers, apartments and condominiums, land and golf courses, including the Four Seasons Resort in Scottsdale. In 1976, Thomas founded Century 21 Real Estate Canada Ltd., where he served as chairman until 1987, when the company had $9 billion in annual sales and employed over 8,000 sales representatives with over 400 franchises. In 1984, he founded Samoth Capital Corporation, a real estate financial services company now known as Sterling Centrecorp Inc.
Bradford has 30 years of experience in residential real estate development and investments. He has purchased and sold more than $600 million of properties in his career. He has served in senior roles at companies including Kaufman and Broad, William Lyon Homes and John Laing Homes, and since 2008 has acted as a principal and managing director of his own investment partnerships. During the “great recession,” Bradford formed partnerships to acquire distressed assets in California, Nevada and Arizona. With the recovery of the real estate market, he has led and directed the acquisition of numerous multifamily assets.
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