McMillins Form Partnership to Develop Resort Community

SAN DIEGO, May 10 /PRNewswire/ -- McMillin Communities, a new development and home-building company formed by the Corky McMillin family of San Diego, has entered into a partnership with GEP Inc.  The new partnership, dubbed McMillin Branson Creek LLC, will oversee the development of the 6,500-acre master-planned community of Branson Creek, which includes two award-winning 18-hole golf courses, country club, marina, airport and approximately 12,000 homesites just south of downtown Branson, Mo.

Providing funding for the partnership is a subsidiary of a real estate fund managed by Oaktree Capital Management, L.P.

Scott McMillin, chairman of McMillin Communities, said his company could not pass up the opportunity to be part of "one of the most spectacular resort developments in the United States."  

"My father Corky McMillin was born in Kansas City, Mo. and our family still has many relatives living in the Midwest," the Southern California native said.  "When Glenn Patch approached us about being his partner, we were impressed with his commitment and his success to date and wanted to be a part of that going forward."

Mark McMillin, Scott's brother, who serves as the company's president and CEO added, "With 8 million visitors a year, Branson boasts a steady income potential. We believe in going where the people are.

"We are not only bullish about Branson's economy but we have tremendous confidence in the entire GEP team," he said. "We are looking forward to joining forces to implement an aggressive expansion plan over the next five years to develop Branson Creek into one of the leading active-adult communities in the United States."

The McMillin family has planned and developed a total of 17 master-planned communities in Southern California over the past 50 years with Scott and Mark representing the third generation of home builders in their family.  Building industry trade groups have awarded them numerous accolades over the past five decades. Mark and his father were both inducted into the California Homebuilding Foundation's Hall of Fame.

GEP Inc., founded by Patch, has been developing Branson Creek since purchasing the property in 1990 and approximately $250 million has been invested in the resort development to date.  

Tim Mahoney, president of GEP, will continue with the new partnership and serve as division manager for the Branson Creek development, working closely with Scott McFerran, McMillin's project manager out of the company's San Diego headquarters.

For more, visit www.branson-creek.com.

SOURCE McMillin Communities