Landeavor, LLC Company Profile

Background

Landeavor, LLC, established in 2007, is a full-service real estate development company specializing in master-planned residential communities. The company was founded to address a significant market void by combining real estate operational expertise with robust capital resources. Landeavor's mission is to maximize land value and generate superior risk-adjusted returns by targeting master-planned residential and resort developments in high-growth primary home markets and established second home and resort markets. The company operates in five states and eight distinct markets, having acquired over $130 million in land assets.

Key Strategic Focus

Landeavor's strategic focus encompasses:

Strategic Land Acquisition: Identifying and acquiring land tracts with unique competitive advantages in high-demand markets with substantial barriers to supply.

Disciplined Underwriting: Conducting thorough due diligence and underwriting to minimize risk and maximize value.

Optimal Entitlement: Securing optimal entitlements for land uses and densities to enhance development potential.

Consumer-Centric Planning: Utilizing comprehensive consumer research to inform planning and development decisions.

Meticulous Budgeting: Implementing detailed operational and development budgeting to ensure financial discipline.

The company targets master-planned residential and resort developments in high-growth primary home markets and established second home and resort markets.

Financials and Funding

Landeavor has raised a total of $150,000 in funding over one round. The company has formed a strategic alliance with Walton Street Capital, a private real estate investment firm based in Chicago. Since its founding in 1994, Walton Street has received equity commitments from various institutional investors, including public and corporate pension plans, foreign institutions, insurance companies, banks, endowments, foundations, trusts, and high-net-worth individuals. This partnership enhances Landeavor's capacity to invest in and develop a variety of planned communities at different stages of development.

Pipeline Development

Landeavor's portfolio includes several notable master-planned communities:

Oakland Park: A 258-acre traditional neighborhood development located on the border of Winter Garden and Oakland, Florida. The community features nearly a mile of frontage on Lake Apopka and onsite access to the West Orange Trail. Landeavor acquired Oakland Park in September 2018 and plans to expand housing inventory to meet market demand.

The River Club: A 748-acre private golf course community in Suwanee, Georgia, approximately 30 miles northeast of Atlanta. Landeavor acquired the final 110 existing and future homesites in August 2016, aiming to continue the community's legacy and strengthen its presence in the Atlanta market.

Great Sky: A 475-acre master-planned community in Canton, Georgia, approximately 40 miles north of downtown Atlanta. Landeavor purchased Great Sky in May 2017, marking its second acquisition in the Atlanta area within eight months. The company plans to expand housing inventory by adding builders and diversifying housing products.

Technological Platform and Innovation

Landeavor leverages its extensive industry experience and strategic partnerships to implement innovative development practices. The company's approach includes:

Proprietary Technologies: Utilizing advanced project management and development tools to streamline operations and enhance efficiency.

Scientific Methodologies: Conducting comprehensive market analyses and consumer research to inform planning and development decisions.

AI-Driven Capabilities: Implementing data analytics and machine learning algorithms to optimize land acquisition strategies and project planning.

Leadership Team

Landeavor's leadership team comprises seasoned industry professionals:

David L. Frame, Principal: Former Chief Operating Officer of Terrabrook, the nation's largest developer of master-planned communities. Previously held executive roles at Arvida Company and Trammell Crow Residential. Served as an Officer in the United States Navy.

Adam Lorry, Principal: Extensive experience in developing financially successful master-planned communities. Former Managing Director and Chief Operating Officer at Terrabrook under Westbrook Partners' ownership. Previously with the Kenneth Leventhal Real Estate Group, a subsidiary of Ernst & Young, LLP.

Samantha Manning, Senior Vice President of Finance: Background in financial services with companies such as The Vanguard Group, Franklin Templeton, and PricewaterhouseCoopers. Transitioned into real estate with Taylor Morrison before joining Landeavor in 2010.

Annie Kilby, Senior Vice President of Marketing: Experience with Crescent Resources, Marriott International, and Medallist Developments. Joined Landeavor in 2012, bringing expertise in branding, marketing, and strategic positioning.

David Mason, Vice President, Carolinas: Over 25 years of leadership experience with companies including Cherokee Sanford Group, Centex Homes, and Landtech. Joined Landeavor in 2012, focusing on delivering homes and repositioning distressed assets.

Daniel Hume, Director of Development: Joined Landeavor in 2023 with over a decade of real estate development experience. Background in commercial construction and multifamily development with Turner Construction, Gilbane Building Co., and Trinsic Residential Group.

Leadership Changes

In 2023, Daniel Hume joined Landeavor as Director of Development, bringing extensive experience in real estate development and construction management.

Competitor Profile

Market Insights and Dynamics

The real estate development industry, particularly in master-planned residential communities, is characterized by significant competition and evolving market dynamics. Key factors influencing the market include population growth in target regions, economic conditions, and consumer preferences for community amenities and sustainable development practices.

Competitor Analysis

Landeavor's primary competitors include:

Anden Design/Build: Specializes in home and commercial renovations.

Saddletree Homes: Provides new construction of custom homes.

Sitterle Homes: Focuses on building garden, traditional, and custom homes.

Builders Cabinet: Manufactures custom and semi-custom cabinetry for residential properties.

These competitors offer various services within the residential real estate sector, contributing to a diverse and competitive market landscape.

Strategic Collaborations and Partnerships

Landeavor's strategic alliance with Walton Street Capital enhances its investment capabilities and development potential. Walton Street's extensive experience and dedicated principal investment and asset management organization provide Landeavor with substantial capital resources and industry expertise.

Operational Insights

Landeavor's strategic considerations include:

Market Positioning: Focusing on high-growth markets with substantial barriers to supply to ensure competitive advantage.

Risk Mitigation: Implementing disciplined underwriting and meticulous budgeting to minimize financial risk.

Community Development: Emphasizing the creation of vibrant, sustainable communities that meet consumer demand and enhance quality of life.

Strategic Opportunities and Future Directions

Landeavor's strategic roadmap includes:

Expansion: Continuing to identify and acquire land in high-growth markets to expand its portfolio of master-planned communities.

Innovation: Leveraging technological advancements and consumer insights to enhance development practices and community offerings.

Sustainability: Prioritizing environmentally responsible development practices to meet increasing consumer demand for sustainable living environments.