Casey Development, Ltd. Company Profile

Background

Overview

Casey Development, Ltd. is a prominent commercial real estate development firm based in San Antonio, Texas. Established in 1992 by Darren Casey, the company has developed and acquired over three million square feet of office, industrial, retail, multi-family, and self-storage properties.

Mission and Vision

The company's mission is to develop and acquire properties that exemplify architectural excellence and quality craftsmanship, ensuring functionality and aesthetic appeal for tenants and residents. Their vision, encapsulated in the phrase "Never Rest," reflects a commitment to continuous improvement and innovation in real estate development.

Industry Significance

With over 25 years in the industry, Casey Development has become a leading entity in the San Antonio real estate market, contributing significantly to the region's commercial and residential property landscape.

Key Strategic Focus

Core Objectives

Casey Development focuses on identifying and capitalizing on real estate opportunities that others may overlook, pursuing them with an aggressive and creative approach. The company emphasizes proactive and decisive action to solve development challenges.

Areas of Specialization

The firm specializes in developing high-quality assets in prime locations, including:

Multifamily Communities: Luxury Class "A" apartments with extensive amenities.

Commercial Properties: Office and retail spaces with timeless design and efficient layouts.

Key Technologies Utilized

While specific technologies are not detailed, the company's commitment to architectural excellence and quality suggests the use of advanced construction techniques and design software to achieve superior results.

Primary Markets Targeted

Casey Development primarily focuses on the Central Texas region, particularly San Antonio, Austin, San Marcos, and New Braunfels, with potential expansion along the IH-35 corridor.

Financials and Funding

Funding History

Specific details regarding the company's funding history, total funds raised, and recent funding rounds are not publicly disclosed.

Notable Investors

Information about individual investors or investment partners is not publicly available.

Utilization of Capital

The capital raised is primarily utilized for the acquisition and development of real estate projects, focusing on high-quality assets in strategic locations.

Pipeline Development

Key Pipeline Candidates

The company has a robust pipeline of projects, including:

Multifamily Communities: Approximately 1,200 units executed and an additional 1,200 in the pipeline in and around San Antonio.

Commercial Properties: Ongoing development of office and retail spaces with timeless design and efficient layouts.

Stages of Development

Projects are typically in various stages, from acquisition and planning to construction and leasing. Specific timelines for anticipated milestones are not publicly disclosed.

Target Conditions

The company's developments cater to both residential and commercial needs, aiming to provide high-quality living and working environments.

Technological Platform and Innovation

Proprietary Technologies

While specific proprietary technologies are not detailed, the company's focus on architectural excellence and quality suggests the use of advanced construction techniques and design software.

Significant Scientific Methods

The company employs a proactive and creative approach to development challenges, indicating the use of innovative problem-solving methods.

Leadership Team

Key Executives

Darren Casey: President & Founder. Darren has over 30 years of experience in real estate development, having founded Casey Development in 1992. He has been instrumental in the company's growth and success.

Dennis Haire: Chief Financial Officer & Controller. Dennis oversees the company's financial operations, ensuring fiscal responsibility and strategic financial planning.

Tedford Barclay: Vice President, Design & Construction. Tedford leads the design and construction teams, ensuring that projects meet the company's high standards of quality and design.

Ory Kalenkosky: Project Manager & Director, Construction for Baxter Contracting. Ory manages construction projects, coordinating with various teams to ensure timely and efficient project completion.

Sam Nunnelly: Director, Development Services. Sam oversees development services, managing project timelines, budgets, and resources to ensure successful project execution.

Competitor Profile

Market Insights and Dynamics

The commercial real estate development market in Central Texas is competitive, with numerous firms vying for prime locations and projects. The region's growing population and economic development contribute to a robust demand for both residential and commercial properties.

Competitor Analysis

Key competitors in the region include:

Crown Companies LLC: Specializes in identifying and developing high-quality retail and mixed-use commercial real estate projects in North Carolina.

Realty Capital Corporation: Focuses on mixed-use, commercial, and residential development throughout the United States, with over 30 years of experience.

Sabot Development LTD: An Austin-based real estate firm managed by Jim Young, CCIM, specializing in land and multifamily development.

Strategic Collaborations and Partnerships

Specific details about strategic collaborations and partnerships are not publicly disclosed.

Operational Insights

Casey Development's focus on high-quality assets in prime locations, combined with its proactive and creative approach to development challenges, provides a competitive edge in the market.

Strategic Opportunities and Future Directions

Strategic Roadmap

The company aims to continue expanding its portfolio in Central Texas, focusing on high-quality developments that meet the evolving needs of the market.

Future Business Directions

Potential areas for expansion include exploring opportunities outside the current geographic focus when the right situation presents itself.

Opportunities for Expansion

The growing demand for both residential and commercial properties in the region presents opportunities for further development and investment.

Positioning for Future Objectives

By leveraging its experience, strategic focus, and commitment to quality, Casey Development is well-positioned to achieve its future objectives and continue its growth trajectory.