Green Brick Partners, Inc. reports news on its homebuilding and land development operations, including quarterly results, home deliveries, net new orders, backlog, gross margins, debt metrics, and share repurchase activity. The company operates through subsidiary homebuilders in Texas, Georgia, and Florida and participates in land acquisition, development, entitlements, design, construction, marketing, and sales for residential neighborhoods and master-planned communities.
Company updates also cover community openings, model-home launches, regional master-planned developments, and recognition of Green Brick communities. Recurring business references include Trophy Signature Homes, CB JENI Homes, Normandy Homes, Southgate Homes, Centre Living Homes, The Providence Group, GHO Homes, and related financial services platforms such as Green Brick Title, Green Brick Mortgage, and Green Brick Insurance.
The Providence Group announces the grand reopening of Grant Place, a premier condominium community in Grant Park, Atlanta. The new model home, part of Phase II, showcases modern, luxury designs with two bedrooms and two baths, ranging from 1,480 to 1,567 sq ft. Featuring upscale finishes, the model includes white and grey interiors accented by shades of blue, full tile backsplashes, and black and gold lighting. Conveniently located near popular amenities, the community offers private garages, elevator access, balconies, and high-tech security. The grand reopening event is scheduled for June 20.
Lakeside at Tessera, a community along the north shores of Lake Travis, Texas, has announced the addition of Trophy Signature Homes, a subsidiary of Green Brick Partners (NYSE: GRBK), as a builder in their upcoming expansion.
Trophy Signature Homes will offer 40’ homesites with one- and two-story floor plans, catering to first-time homebuyers. The homes will include standard features showcased in model homes, all being Energy Star Certified with amenities such as tankless water heaters and LED lighting.
Residents of Lakeside at Tessera will have access to numerous amenities including a waterfall edge pool, children’s splash pad, hike and bike trails, and a private boat launch. Home prices will start in the high $300,000s, with a model home opening in July 2024.
The Providence Group announced the sale of tickets for the 2024 St. Jude Dream Home in Atlanta, beginning May 16, 2024. Each $100 ticket will enter buyers into a raffle for a newly built home in Brackley, just over a mile from Cumming City Center. The home, featured in The Providence Group's latest neighborhood, includes 4 bedrooms, 3.5 bathrooms, and spans 2,676 sq. ft. Proceeds from the 20,000 tickets aim to raise over $2 million for St. Jude Children's Research Hospital. The raffle will take place on August 15, 2024. Buyers before June 14, 2024, also enter a draw for a Michael Phelps Legend Series LSX 900 hot tub and a $10,000 furniture certificate.
Green Brick Partners, Inc. reported record first quarter 2024 results with diluted EPS of $1.82, up 32.8%, a record homebuilding gross margin of 33.4%, net new home orders of 1,071, backlog of $725 million, and debt to total capital of 18.3%. The company saw strong sales performance with a decrease in cancellation rates and overall average incentive rates, leading to a sequential increase in net new home orders.
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