MISSION VIEJO, CA—Orange County-based homebuilder/developer Woodbridge Pacific Group is expanding and diversifying, boosted by a commitment of up to $200 million in equity capital by its established financial partner, a private equity firm based in New York. Woodbridge (WPG) will utilize this support to implement four new projects slated for 2015-2016, and for new opportunities it is pursuing in prime California markets.
The funding agreement provides for a multi-project business platform, which WPG will utilize for real property acquisitions, land planning, entitlement activities, property sales and/or residential construction and home sales. The platform strengthens WPG's ability to pursue favorable opportunities in multiple real estate markets.
“Solid performance in today's development arena requires a solid capital base, particularly for privately held companies,” said WPG principal and co-founder Todd Cunningham. “This platform was the logical next step in the equity alliance we formed five years ago.”
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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.
