Real Estate Veterans Team at TDI to Expand Nationwide with $1.5 Billion Multifamily Platform Projects Already Underway in Texas and California
IRVING, Texas, Oct. 3, 2012 /PRNewswire/ -- Four industry veterans, with more than 100 years of combined experience in real estate, are preparing an expansion of their company with the creation of $1.5 billion in joint venture platforms with investors which will seek to capitalize on the compelling market dynamics in the multifamily sector. The ventures will focus exclusively on Class A investments in core markets.
Former JPI Executives Mark Bryant and Kirk Motsenbocker created TDI with backing from investors Ron Ingram and Bobby Page, two of the founders of JPI, which developed one of the largest U.S. portfolios of luxury class multifamily communities and student housing encompassing 89,000 units in 126 cities in 25 states and Canada valued at over $10.9 billion.
In addition to their corporate headquarters in Irving, Texas, TDI has offices in New York, San Diego and Scottsdale, Arizona. Joining the founders on the Executive Management team are four other executives from JPI: Ben Montgomery, Managing Partner for Central and South Texas; Brad Taylor, Managing Partner for North Texas and Colorado; Gus Villalba, Managing Partner for the West Coast and Arizona; and Greg Belew, Managing Partner for the Northeast.
"There are exceptional opportunities in the market for organizations with the experience and bench strength to identify and execute in this highly competitive field," said TDI's President and CEO, Mark Bryant. "Our management team's 30 year track record of success in the real estate industry and long-standing relationships in the financial community mean that we can move on opportunities quickly and maximize the return on investment on our projects."
TDI currently has 1,014 units under construction in Texas and California and has asset management responsibilities over 4,900 units nationwide. In addition, TDI has plans to develop an additional 1,964 units over the next 12 months that are in various stages of planning and predevelopment and is currently raising capital to complement their venture platforms in order to fund their expansion and business plan.
The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services.