LOS ANGELES, June 13, 2011 (GLOBE NEWSWIRE) -- Resmark Equity Partners, LLC (Resmark) and Saybrook Community Capital, LLC (SCC) announced a strategic alliance today that brings together the two organizations' financial and professional resources in the residential real estate and homebuilding industries.
Under the agreement, SCC Co-Founders and Principals M. Leigh Austin and Dan Hayes will join Resmark's land and housing operations as Sr. Vice Presidents, Investments. Adding to Resmark's robust presence in California, they will enhance the Company's investment activities in Arizona, Nevada, the Pacific Northwest and the greater metropolitan Washington, D.C. housing markets, regions in which SCC has operated for many years. Working out of Resmark's Los Angeles corporate headquarters, Ms. Austin and Mr. Hayes, along with their staff at SCC, will work with the Resmark management team to create a broader platform from which to invest in the residential and homebuilding sector.
SCC owns approximately 2,000 residential lots in communities throughout the country and will continue in its role of managing the development and build-out of these investments on behalf of its investors.
Hayes and Austin co-founded Saybrook Community Capital in 1999. Previously, Austin was Director of Development for KB Home, and held finance and work-out positions with banks, including Citibank, N.A., and real estate investment companies. She is a graduate of Florida State University and the Anderson School of Management at UCLA (M.B.A. honors). Hayes was formerly Assistant Treasurer at KB Home; before 1995, he worked in strategic planning, restructuring, corporate and project finance and M&A with New Urban West Communities and Kenneth Leventhal & Company. A graduate of the University of California, Berkeley, he also holds an M.B.A., honors, from the Anderson School of Management at UCLA.
"Leigh and Dan's ten-plus years of experience as land bankers and their extensive network in the homebuilding sector nationally bring additional capability to Resmark's already dynamic land and housing team," said Robert N. Goodman, President of Resmark, of the alliance.
Resmark's Chief Investment Officer R. Kent Grahl added, "Resmark's focus on building enduring relationships matches the commitment that Leigh and Dan brought to their builder clients and banking partners at SCC."
"We share Resmark's agile yet disciplined approach. Like Rob, Kent and their team, we're dedicated to protecting financial interests, anticipating risk and maximizing returns for our investor partners," Hayes said.
Commented Austin, "Combining resources with Resmark is a natural evolution of SCC's work in the homebuilding industry. Together, we represent a highly skilled management team that will expand the reach of both companies at an optimal time to invest in the residential sector."
About Resmark Equity Partners
Resmark is a full-service residential investment advisor headquartered in Los Angeles. The Company manages, finances and oversees the acquisition and development of residential for-sale and multifamily real estate in California and the Western United States and other select markets nationwide. Resmark manages over $950 million in equity investment capital for the nation's two largest public pension funds, the California Public Employees' Retirement System ("CalPERS") and the California State Teachers' Retirement System ("CalSTRS"). Since its inception in 1995, Resmark has participated in more than 130 deals, with approximately 21,900 units of residential single-family and multifamily real estate, representing over $6 billion in cumulative and anticipated revenues.
About Saybrook Community Capital
Established in 1999, SCC is nationally recognized as one of the top land bankers to the homebuilding industry. SCC has bought, developed and sold over 14,000 residential lots nationwide in nearly 80 separate land banking transactions, and managed over $1.4 billion of capital through its funds.
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