| | |  | Message from the President
I am pleased to have the opportunity to introduce to you Brookfield Homes Corporation, a US based homebuilder, focused on designing, constructing and marketing homes to move-up and luxury home buyers, and entitling and developing land in master-planned communities.
Today, we are one of the 25 largest homebuilders in North America, with operations in five market areas: San Francisco Bay Area; Southland/Los Angeles; San Diego/Riverside; Sacramento; and the Washington D.C. Area.
In January 2003, we were spun off by Brookfield Properties Corporation, and we commenced trading on the New York Stock Exchange as a separate public company under the symbol BHS.
Investment Dynamics
We are committed to building long-term value for shareholders based on our successful track record and the following investment dynamics:
Significant land holdings in supply constrained markets - 14,561 lots owned and a further 11,025 lots controlled through land options – the majority of all lots were controlled prior to 2004.
Risk and entitlement returns - Controlling land through options reduces capital at risk, and value is created by obtaining entitlements.
Positive historical performance - Since 2003, the company has returned, through dividends and share buybacks, $580 million to shareholders, or in excess of $20 per share.
Experienced and focused management team - An average of over 20 years experience and in-depth knowledge of our markets.
Outlook
We invite you to learn more about our
strategy, performance and prospects for continued growth by touring our website.
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