Case 19 Green Brick Partners

B. Rajesh Kumar
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B. Rajesh Kumar: Institute of Management Technology

A chapter in Rising Stars, 2024, pp 145-153 from Springer

Abstract: Abstract Green Brick is a diversified homebuilding and land development company which operates in the US states of Texas, Georgia, and Florida. Green Brick Partners Inc. is Fortune Magazine’s 2021 fastest growing public homebuilder and land developer in the United States. The company commenced operations as a publicly held homebuilding company in year 2014. Green Brick encompasses eight homebuilder brands across four states in the United States. This publicly traded company is listed on NYSE. The core markets of the company are located in the high growth US metropolitan areas of Dallas Forth Worth (DFW), Texas and Atlanta, Georgia, treasure coast area in Florida. Green Brick also own a non-controlling interest stake in a builder in Colorado Springs. The company is involved in all the aspects of the homebuilding process which includes land acquisition and development, entitlements, design, construction, title and mortgage services, marketing and sales, and the creation of brand images at residential neighborhoods and master planned communities. The company manage land risk through underwriting. The subsidiary homebuilders are provided with centralized state of the art operational support. By December 2021, Green Brick Partners owned or controlled approximately 28,600 home sites in high growth submarkets in DFW, Atlanta metropolitan areas and Treasure Coast, in Florida. The homebuilding projects offered by Green Brick include town homes, patio homes, single family homes, and luxury homes. The company focuses on growth through acquisitions of builders and organic growth. The current strategy focusses on disciplined investment strategy with the prudent use of leverage for investment in land acquisition, development, and homebuilding businesses. Green Brick Partners gives importance for creating sustainable products and enhancement of green features in its home portfolio. With a goal to reduce carbon emissions, the company-initiated action plan to benchmark its homes against the Home Energy Rating System (HERS) index. The market capitalization and enterprise value increased by 64% and 56% during the period 2018–2021.

Date: 2024
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DOI: 10.1007/978-3-031-50032-9_19

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