Mattamy Homes Increases Ownership Control of West Villages

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Nov 21, 2019, 09:15 ET

VENICE, FL, Nov. 21, 2019 /PRNewswire/ - Mattamy Homes is pleased to announce that it has reached agreement to acquire all of Vanguard Land's partnership interest in the West Villages. Upon closing, Mattamy will own 98.5% of the interests in the partnership that owns the land comprising the third-fastest selling master-planned community in America. The West Villages property consists of more than 9,600 acres of land for future development of approximately 22,000 homes and 3 million square feet of commercial space and is home to the spring training facility of the Atlanta Braves baseball team.

Mattamy Homes (CNW Group/Mattamy Homes Limited)

Since the acquisition of the property in 2014, Vanguard Land's Managing Principal, John Peshkin, has served as manager of the partnership and led the execution of strategies developed in conjunction with the partnership's three-member Executive Committee, currently consisting of: Mattamy Homes Chairman of the Board, Larry Nicholson; Mattamy Homes US CEO, Pete Skelly; and Mattamy's US Vice President of Land, David Stewart. As a result of this acquisition agreement, Vanguard Land's management role and John Peshkin's involvement in the ownership and management of the West Villages has come to an end.

"Acquiring the partnership interests of Vanguard Land at this time allows Mattamy to increase its ownership control of the West Villages property, one of America's premier master-planned communities," says Pete Skelly, CEO of Mattamy Homes US. "We appreciate the contributions John has made to the community's growth and success during his time as a partner and manager. Going forward, Rick Severance, President of Mattamy's West Villages Division, will be responsible for leading all strategic and operational elements of Mattamy's master-planning efforts at West Villages."

About West Villages Florida
The more than 15,000 acres that comprise West Villages Florida (www.MyWestVillages.com) are located adjacent to the Tamiami Trail corridor in South Sarasota County between the urban centers of the City of Venice and the City of North Port. The community is being developed by a partnership that includes Mattamy Homes (www.MattamyHomes.com), the largest privately owned home builder in North America. In 2019 John Burns Real Estate Consulting named West Villages Florida the 3^rd fastest selling Master-Planned Community in the country.

About Mattamy Homes
Mattamy Homes is the largest privately owned homebuilder in North America, with a 40-year history of operations across the United States and Canada. Every year, Mattamy helps more than 7,000 families realize their dream of home ownership. In the United States, the company is represented in 10 markets – Charlotte, Raleigh, Phoenix, Tucson, Jacksonville, Orlando (where its US head office is located), Tampa, Sarasota, Naples and Southeast Florida – and in Canada, its communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton. Visit www.mattamyhomes.com for more information.