The National Homebuilding and Land Development Company Places Fifth on the 2021 List
PLANO, Texas, Jan. 07, 2021 (GLOBE NEWSWIRE) — Green Brick Partners, Inc. (Nasdaq: GRBK) (“Green Brick”) is pleased to announce that it has been named to Forbes’ 2021 America’s Best Small Companies list. The national homebuilder and developer placed fifth on this year’s list of 850 companies evaluated.
Over 850 companies with market capitalizations from $300 million to $2 billion were analyzed to create the list. To qualify for the top 100, companies were evaluated on earnings and sales growth for the last 12 months and over five years, one-year and five-year return on equity, along with 52-week total return as of November 25, 2020.
“We are exceptionally pleased to be included in Forbes’ list and to be noted as one of America’s fastest growing residential developers,” said Jim Brickman, Chief Executive Officer and Co-Founder of Green Brick Partners. “With demand for new homes at the highest levels in more than a decade, Green Brick has successfully continued to grow and expand its community count year over year.”
Earlier this week the company announced the acquisition and development of five new communities in the Dallas-Fort Worth market that will include the company’s Trophy Signature Homes, CB JENI Homes, Normandy Homes, and Southgate Homes Team Builder brands.
“Though our proven track record of risk-adjusted growth, strong returns, and position in many of the best markets were integral to allowing us to place on this list, Green Brick Partners still has a long pathway towards future growth,” said Jed Dolson, Chief Operating Officer and Executive Vice President of Green Brick Partners. “With our dramatic growth in lots owned and controlled and record starts of over 700 units in Q3 2020, we are confident that we have the necessary inventory levels to achieve significant growth in 2021 and beyond.”
Green Brick Partners’ neighborhoods offer homes with floorplans designed to meet buyers’ evolving needs including ample outdoor space and separate home offices, at reasonable price points in some of the best and most diversified growth markets in the country. For more information on Green Brick Partners, please visit www.greenbrickpartners.com.
About Green Brick Partners
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified homebuilding and land development company. Green Brick owns four homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes), as well as a controlling interest in homebuilders in Atlanta, Georgia (The Providence Group), Port St. Lucie, Florida (GHO Homes), and Dallas, Texas (Centre Living Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado, and retains interests in related financial services platforms, including Green Brick Title, Providence Group Title, BHome Mortgage, and Green Brick Mortgage. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master planned communities. For more information about Green Brick Partners Inc.’s homebuilding partners, please visit https://greenbrickpartners.com/team-builders/.
Forward-Looking and Cautionary Statements
Any statements in this press release about Green Brick’s expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance that are not historical facts are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “should,” “predicts,” “potential,” “expects,” “future,” “positioned,” “believes,” “projects,” “estimates” and similar expressions, as well as statements in the future tense. Forward-looking statements in this press release include statements regarding (i) the Company’s strategies for development of new and existing communities and (ii) the Company’s beliefs regarding its growth in 2021 and its inventory levels to achieve such growth. These forward-looking statements involve estimates and assumptions which may be affected by risks and uncertainties in the Company’s business, as well as other external factors, which could cause future results to materially differ from those expressed or implied in any of these forward-looking statements. These risks include, but are not limited to: (1) adverse impacts from general economic conditions, including as a result of the COVID-19 pandemic and the responsive actions taken by federal, state and local public health and governmental authorities, (2) competition in the homebuilding industry; (3) changes in consumer price sensitivity or decreased demand for the Company’s homes or finished lots; (4) availability and cost of labor and raw materials; (5) a failure to recruit, retain or develop highly skilled and competent employees; (6) an inability to develop or sell communities; (7) government regulation risks, including zoning and density regulations; (8) a lack of availability or volatility of mortgage financing; (9) severe weather events or natural disasters; (10) difficulty in obtaining sufficient capital to fund the development of these communities at commercial rates or at all; and (11) poor relations with community residents. For a more detailed discussion of these and other risks and uncertainties applicable to the Company please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2020 filed with the Securities and Exchange Commission.