Ryland Group, Oaktree Capital Form LLC

Posted by Orb Staff on February 03, 2009 No Comments
Categories : Residential Mortgage

The Ryland Group Inc., a home builder, and Oaktree Capital have formed a limited liability company to acquire and develop residential real estate projects. This venture will combine Ryland's operational experience as a production home builder with Oaktree's expertise in investing in distressed assets in an effort to take advantage of the current dislocation in the residential real estate market.

‘We are excited about the opportunities that will arise as a result of this partnership,’ says Chad Dreier, Ryland's chairman and CEO. ‘With more than $55 billion in assets under management, Oaktree is one of the premier investment managers in the country. Their considerable capital base and strong track record as an investor in distressed assets make Oaktree an ideal partner for us.’

An executive committee – composed of representatives from both firms – will make the purchase decisions. The company says it will then provide the necessary improvements and permits with the intent to ultimately sell the projects as finished lots. The Ryland Group will have the right to option all lots sold by the partnership.

SOURCE: The Ryland Group

Register here to receive our Latest Headlines email newsletter




Leave a Comment