Americrest Homes
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The Falcone Group founded Transeastern Homes in 1986 and grew into the 6th largest privately held homebuilding company in America. Transeastern Homes was sold to Technical Olympic (NYSE: TOUSA) in August 2005. The Falcone Group is reentering homebuilding through Americrest Homes and will utilize the current market conditions to expand its homebuilding footprint nationally. Americrest Homes has successfully closed on a facility including $500 million in equity capital in partnership with a prestigious Wall Street private equity firm. Americrest currently owns 7000 lots in the major Florida markets of Orlando, Tampa, Jacksonville, Miami, Ft Myers and the Treasure Coast. Americrest Homes and its senior management team have a proven track record of successfully operating a large homebuilder. Our goal is to build a world class national homebuilder.
Americrest Homes will build quality single family housing at compelling price points. Americrest Homes is not saddled with the legacy issues hindering existing public and private homebuilders. Purchasing land and developing product at today's more competitive land pricing provides Americrest a significant strategic advantage over its competitors nationally. Americrest Homes is well capitalized through its relationship with a large Wall Street investment banker and can execute on the tremendous opportunities in the real estate market.
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