MC Companies and Clark-Wayland Create Joint Venture Dedicated to New Apartment Construction in Phoenix and Tucson Markets
Jan 31, 2012, 09:30 ET
SCOTTSDALE, Ariz., Jan. 31, 2012 /PRNewswire/ -- Scottsdale-based MC Companies announced the formation of a new joint venture with Phoenix-based Clark-Wayland Construction. This joint venture, named MC Clark-Wayland, will focus primarily on development and construction of new multifamily projects in Phoenix and Tucson, Arizona for its own account and others. The combined company has more than 75 years construction experience and has built over 25,000 units in Arizona. MC Companies currently owns and manages approximately 6,000 units in Arizona, Oklahoma and Texas.
With Clark-Wayland as a partner, MC will expand its development and construction capabilities within Arizona to include garden-style, mid- and high-rise multifamily construction. The company has two apartment communities underway in Tucson: The Place at Canyon Ridge, with 116 units, and The Place at Creekside, with 208 units. Both projects are scheduled for completion and lease up in mid 2012.
"Our two companies fit together like hand-in-glove, we complement each other," said Jere Clark, Principal of Clark-Wayland. "MC had pieces of the pie that we didn't have and Clark-Wayland had pieces that MC did not have. Together, the company is a full spectrum Real Estate company with a depth that investors will appreciate."
Ross McCallister, Principal of MC Companies agrees, "Clark-Wayland has valuable expertise in garden-style, mid and high-rise apartment construction. The merger with Clark-Wayland increases our capacity and affords us the opportunity to capitalize on current market trends."
About MC Companies:
MC Companies http://www.mccompanies.com is a real estate investment, development, construction, and management company specializing in the multifamily properties and commercial markets. MC seeks opportunities where they can add value through capital improvement, revenue enhancements and expense reduction through utilization of proven operational efficiencies and management processes. MC Companies has completed over $300 million in multi-family and commercial value-added transactions since 1985 including more than 10,000 apartment units in Arizona, Nevada, Oklahoma, Oregon and Texas.
Clark-Wayland (http://www.clark-wayland.com) is a real estate development and construction company that since 1974 builds multifamily and high profile building projects. Clark-Wayland has built more than 23,000 units. Clark-Wayland is LEED Certified and utilizes high quality, energy efficient building materials.
Contact Ryan Francisco at [email protected] for land and acquisition inquiries.
To schedule an interview with one of the partners, please call Jennifer Costanza at 480-998-5400 or e-mail at [email protected]
SOURCE MC Companies
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