Irvine, Calif.-based MBK Homes is expanding its reach into Southern California with the recent acquisition of land holdings.
The purchases will help expand MBK’s portfolio in Orange and Los Angeles counties, with three new communities expected to debut soon. Matt Hamilton, vice president of Residential Land Acquisition, is head of the new purchase activity.
The combination of limited land availability, a steadily growing population and the recent downturn have created pent-up demand for housing, spurring MBK to put renewed focus on expansion.
"Since being given the green light to buy land, Matt has acquired three excellent properties in quick succession, expanding MBK’s land portfolio: Sea House, Jacaranda and Vineland Metro," said Tim Kane, president of MBK Homes when discussing California acquisitions.
Kane added, "Over the last seven and a half years at MBK, Matt has demonstrated incredible competency in all of his undertakings. I am pleased to announce his promotion to Vice President of Residential Land Acquisition for MBK Homes."
The three acquisitions orchestrated by Hamilton will all open as single-family home communities.
Jacaranda, the largest of the three communities, offers 45 detached homes in two-story designs ranging from around 1,605 to 1,852 square feet. There will be five versatile floor plans available, with some homes offering up to four bedrooms. Spanish architecture will be featured on all residences, and all homes will include two and one-half baths and two-car attached garages.
Another of the communities, Sea House, is a contemporary collection of 33 detached homes, all three-story residences featuring rooftop decks and open floor plans. The homes range from 1,587-to-1,785 square feet and include two full and two half baths, two-car attached garages and up to three bedrooms.
The third community, Vineland Metro, features 27 homes, ranging from 1,628-to-1,920 square feet. The homes include two-car attached garages, up to three bathrooms and four bedrooms.
MBK is slated to begin construction on a multifamily rental community by year's end. The site of the 100-unit development is located in San Diego County.