Patch – Cerritos: “All 31 Townhomes at Brandywine Homes’ Sunstone Development in Norwalk are Sold”

February 13th, 2017

By   February 13, 2017 1:56 pm ET                                

Brandywine Homes recently announced that all 31 townhomes have been sold at Sunstone, a two-acre, transit-friendly community located at 11009 Pioneer Boulevard that held its grand opening in May 2016.

“Sunstone sold out quickly because it offered rare new home ownership opportunities in the highly desirable Norwalk area,” said Dave Barisic, principal in charge of sales and marketing at Brandywine Homes. “We knew these exceptional homes wouldn’t be on the market for long.”

Sunstone, a gated community built on the site of a former school building close to Little Lake Park, Heritage Park and Wilderness Park, offered townhomes from approximately 1,110 to 1,475 square feet with hand-selected designer finishes as well as versatile, expansive floor plans. The two- and three-bedroom stucco townhomes have granite countertops, stainless steel appliances, tankless water heaters, two-car garages and concrete tile roofs.

Brandywine, a pioneer of infill development in Southern California, sold 116 homes, opened seven new communities and broke ground on four additional communities in Southern California in 2016. The homebuilder plans to close about 150 homes and open at least four communities throughout Orange and Los Angeles counties in 2017. Read More >

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OCRegister.com “Anaheim builder sells out 20-home project in 5 months”

January 30th, 2017

Jan. 29, 2017  Updated Jan. 30, 2017 6:26 p.m.

The Lakehouse community by Brandywine Homes sold for an average price of $790,000.

By JONATHAN LANSNER / STAFF COLUMNIST

All 20 homes in a small project along the Santa Ana River in Anaheim have gone into escrow in just five months.

The Lakehouse community by Brandywine Homes sold four-bedroom residences at an average price of $790,000. Move-ins start as soon as March.

The quick sale is part of a growing market for new homes. Brandywine, for example, saw companywide sales across Southern California grow to 116 last year from 40 in 2015.

“The new home market in Orange County continues to be strong, driven by an expanding job market, historically low interest rates – still – and an overall shortage of housing,” says Dave Barisic, Brandywine’s marketing chief. “As long as these factors stay in place, we do not see a change in this market in the foreseeable future.”

Orange County homebuilders collectively sold 4,690 new homes last year, up 29 percent vs. 2015 and their best year since 2006. Developers grabbed 12.4 percent of all sales vs. 9.9 percent in 2015 – builders’ highest local market share since 2007.

Some of that success may be due to some relatively moderating pricing.

The median new-home selling price in 2016 was an eye-catching and budget-busting $830,000. But it was down 1 percent from 2015 and “just” 29 percent above the countywide median price. In 2015, new homes were 38 percent above overall pricing.

And it doesn’t hurt that builders have supply to sell while the inventory of existing homes for sale runs one-fifth below historical norms.

In the third quarter, builders had completed or had under-construction inventory of 1,127 housing units, double the supply of 15 months earlier and back at levels last seen as the market slowed before the recession.

The region’s developers also are getting national attention.

The Irvine Ranch sold 1,989 homes last year, making it the fastest-selling master-planned home community in the nation, according to RCLCO. Great Park Neighborhoods in Irvine, ranked eighth, with 530 homes sold last year; Rancho Mission Viejo in South County ranked 14th with 458 sales; and Baker Ranch in Lake Forest ranked 17th, selling 443 homes.

The challenge for developers this year will be navigating a tougher climate.

Competition among builders and existing homes will be stiff, especially for residences priced anywhere above the mid-range. House-hunter budgets will be thinned by higher mortgages rates, putting pressures on pricing. And construction costs should rise, with shortages of labor and certain supplies looming.

But as long as current homeowners largely stay put and Orange County bosses extend their six-year hiring spree to a seventh in 2017, builders should find a way to have another solid year.

Contact the writer: jlansner@scng.com

 

 

 

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Builder.com: “Anaheim builder sells out 20-home project in 5 months”

January 30th, 2017

Posted on:

 All 20 homes in a small project by Brandywine Homes have gone into escrow in just five months, reports Jonathan Lansner of The Orange County (Calif.) Register.

The Lakehouse community in Southern California’s Anaheim sold four-bedroom residences at an average price of $790,000. Move-ins start as soon as March. Lansner writes:

The quick sale is part of a growing market for new homes. Brandywine, for example, saw company-wide sales across Southern California grow to 116 last year from 40 in 2015.

Orange County home builders collectively sold 4,690 new homes last year, up 29 percent vs. 2015 and their best year since 2006. Developers grabbed 12.4 percent of all sales vs. 9.9 percent in 2015 – builders’ highest local market share since 2007.

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Builder.com: “Brandywine Homes Sells All 20 Residences at Anaheim Community”

January 27th, 2017

Posted on:                                                         

Anaheim Online News reports that Brandywine Homes has sold all 20 units five months after their grand opening at Lakehouse, a new community in Anaheim, Calif.

Designed by Pate-Smeall Architects, the homes range from 2,200-2,750 square feet on lots ranging from 3,650 to 7,662 square feet. They are offered in Craftsman and Spanish-style architecture, and with clay or concrete roofing tiles and two-car garages.

“Homebuyers were ecstatic about these spacious, luxurious homes surrounded by the serenity of a nature preserve in their backyard,” said Dave Barisic, principal in charge of sales and marketing at Brandywine Homes, a pioneer of infill development in Southern California. “Finding a newly built home of this size in an established neighborhood in Anaheim isn’t easy. We’ve fulfilled a real need with this community, and we’re not surprised it sold out so quickly.”

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OC Register: “Real estate briefly: Pinnacle buys office complex for $40 million; Willis new GM of golf for Irvine Co. Resort Properties”

January 23rd, 2017

Jan. 22, 2017 Updated Jan. 23, 2017 9:51 a.m.

Brian Geis

Eric Everhart

 

 

 

 

 

 

 

 

 

 

Pinnacle Asset Management Group has bought a 203,749-square-foot office building at 26632-26642-26672 Towne Centre Drive in Foothill Ranch for $40 million. Ryan Swanson and Kurt Bruggeman of Lee & Associates in Irvine represented Pinnacle. The seller, Equity Office/Blackstone, was represented by Ryan Gallagher, Tim Geiman and Derreck Barker of Holliday Fenoglio Fowler, in Newport Beach. Built in 2000, the office building is completely leased with tenants including Loandepot, Pepsi Co. and Arrow Electronics.

Kelemen Caamaño Investments has acquired four multitenant, low-rise office buildings in Irvine for $27 million. All four buildings are part of the 13.55-acre, eight building Centerpointe office project, at the southwest corner of the Irvine Business Complex at MacArthur Boulevard and Jamboree Road. At the time of the purchase, the occupancy in the buildings was nearly full. Some of the tenants include UC Irvine, SGS&B Law, and Elite Education. Wind Water Realty represented KCI and will assume the property management for the project. The seller was represented by Brian Garbutt of Lee & Associates and Robert Griffith of NGKF. Read More >

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Patch.com: “Brandywine Homes Hires Walnut Resident as Vice President of Development “

January 20th, 2017

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Industry Veterans Eric E. Everhart to Oversee Due Diligence, Entitlements and Project Management for Southern California Infill Homebuilder

Brandywine Homes, a pioneer of infill development in Southern California, announced today it has hired industry veteran to serve as vice president of development. Eric E. Everhart, former senior project manager for Van Daele Development Corp., will perform duties related to due diligence, entitlements and overall project management of communities within the Brandywine portfolio.

Before he was at Van Daele, Everhart was vice president of development for City Ventures, a residential developer specializing in high-density, urban and downtown infill housing in California, and vice president of development and director of finance for The Olson Company, overseeing urban infill developments in Orange County and greater Los Angeles. Everhart has also worked with J.M. Peters, The Anden Group, Shea Homes, Hearthside Homes and Forecast Homes. He has a bachelor’s degree in business management with an emphasis on finance and accounting from California State University, Fullerton.

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Yahoo! Finance: “Brandywine Homes Hires Two Vice Presidents for Development”

January 18th, 2017

Jan 18, 2017

Brandywine Homes, a pioneer of infill development in Southern California, announced today it has hired two industry veterans to serve as vice presidents of development. Brian M. Geis, former senior project manager with William Lyon Homes, and Eric E. Everhart, former senior project manager for Van Daele Development Corp., will perform duties related to due diligence, entitlements and overall project management of communities within the Brandywine portfolio.

“Brian and Eric are experienced real estate professionals who will enhance our team,” said Brandywine Homes’ President Alex G. Hernandez. “I look forward to their contributions to Brandywine’s execution of successful infill housing communities.” Read More >

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GlobeSt.com: “Will Self-Storage Become a Staple of Home Development?”

January 11th, 2017

January 11, 2017 | By Carrie Rossenfeld                       

ESCONDIDO, CA—Self-storage may become more of an integrated part of residential development as this becomes more concentrated with much higher densities and on a grander scale, Brandywine Homes’ Mark Whitehead tells GlobeSt.com.

Whitehead: “The new [self-storage] clientele is comprised of savvy and sophisticated shoppers heavily geared to female visitors .”

ESCONDIDO, CA—Self-storage may become more of an integrated part of residential development as this becomes more concentrated with much higher densities and on a grander scale, Brandywine Homes’ principal in charge of construction Mark Whitehead tells GlobeSt.com. The firm recently purchased 3.2 acres of vacant land at 2319 Cranston Dr. in Escondido’s Kit Carson neighborhood and will build 586 self-storage units totaling on 1.74 acres and four custom homes on 12,602-square-foot to 14,000-square-foot lots. This is Brandywine’s first ground-up self-storage development project.

We spoke with Whitehead about self-storage as an integral part of residential development and where he sees this trend heading.

GlobeSt.com: What was the impetus behind the ground-up self-storage development in Escondido?

Whitehead: There were several reasons for us to entitle and build our own facility from the ground up in Escondido. First, we are able to generate greater site and product value through controlling the design, entitlement and future construction process. Second, Escondido was chosen because of its central location in San Diego County, coupled with significant projected growth in residential dwelling units, primarily multifamily in form and density, in the community.

GlobeSt.com: Is it common to include self-storage facilities as a component of homebuilding?

Whitehead: No, it is not common to include self-storage facilities as part of homebuilding or as an integrated part of any larger-scale residential development. However, it may become more related as future development becomes more concentrated with much higher densities and on a grander scale. In the case of our new complex, we were encouraged by the City of Escondido to bifurcate the site due to a significant grade break through the property that basically caused the easterly half to relate to existing single-family homes to which the new lots would face, while orienting the westerly portion toward existing commercial operations along Escondido Blvd. Well-planned developments must relate properly to existing edge conditions and neighborhoods around them. Read More >

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Builder Magazine: “Brandywine Homes Announces Its Third Infill Townhome Development in Norwalk, Calif. “

January 3rd, 2017

Castella’s 21 townhomes will add entry-level housing near Los Angeles and other job centers.

By

A rendering of the Castella development underway from Brandywine Homes.

A rendering of the Castella development underway from Brandywine Homes.

 

 

 

 

 

Irvine, Calif.-based infill builder and developer Brandywine Homes has announced the purchase of the former Excelsior Drive Baptist Church site in Norwalk, Calif. as well as its plan to build Castella, an entry-level, 21-townhome community.

The two-and three-bedroom townhomes will feature French and Craftsman stucco exteriors, and range in size from 1,108 to 1,491 square feet. All homes include open floor plans, pre-wired security systems and private yards, while the community features a common patio, barbecue grills, and private and public parking. Read More >

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Patch.com “Brandywine Homes’ Lotus Court, a 13-Townhome Community in Monrovia, Has Sold Out”

December 23rd, 2016

Homebuyers Attracted to Transit-Friendly Community in Award-Winning School District
By Ingrid Culbert – December 23, 2016 11:06 am ET

Brandywine Homes announced today that it has sold all 13 townhomes at Lotus Court, a new community on Duarte Road near Station Square, a recently revitalized transportation hub in Monrovia, Calif.

“Homebuyers flocked to Lotus Court because it’s a one-of-a-kind community with beautiful homes and amenities that can’t be beat,” said Dave Barisic, vice president of sales and marketing at Brandywine Homes, a pioneer of infill development in Southern California. “Lotus Court is steps away from excellent public transportation, located within an award-winning school district and offers beautiful homes and park-like common areas.” Read More >

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