Williams Homes, Inc. (“Williams” or “Company”), a leading Private Homebuilder in the Western U.S., announced today that it has received a significant investment from an affiliate of Prospect Ridge Advisors, LLC (“PR”), a leading investment manager specializing in private equity real estate investing in the U.S. The financial terms of the investment were not disclosed.
Co-founded in 1996 by Lance Williams and housing legend Ray Watt, Williams builds and sells single family attached and detached homes in communities targeted to entry level homebuyers and move up homebuyers in California, Idaho, Montana, and Texas. Williams consistently lands in the top ten most active for sale homebuilders in its established markets.
“We are incredibly excited to partner with the Prospect Ridge team as a strategic and financial ally,” said Lance Williams, Founder and CEO of Williams. “This partnership will support investments across the Company as we expand our operations, technology, and leadership team so we can continue our mission and family approach to building quality for a lifetime through delivering attainably priced homes to families in the Western U.S.”
Matt Klein, Chief Financial Officer for Williams, added, “From day one, the PR team connected with the family’s vision for growing the business. Their passion, knowledge, and experience made it clear that PR was the right partner for us. We look forward to collaborating with the entire PR team as this investment marks the first step towards achieving Williams growth and expansion plans.”
In conjunction with the transaction, PR team members Jay Nydick and Robert Milne will join Williams’ Board of Directors.
“We have been looking to partner with an entrepreneurial homebuilder who shares the same values and market outlook for some time,” said Jay Nydick, co-founder of PR. “The Williams team has a demonstrated track record and an investment pipeline to achieve substantial growth throughout the Western U.S.”
About Williams Homes, Inc.
Williams Homes (www.williamshomes.com) builds and sells single family attached and detached homes in communities targeted to entry level homebuyers and move up homebuyers in California, Idaho, Montana, and Texas. Williams’ dedicated group of professionals with more than 500 years of combined expertise in all phases of the real estate development lifecycle, including asset management, entitlements, horizontal and vertical construction, and sales, is committed setting a new standard in homebuilding and ultimately, the customer experience.
About Prospect Ridge
Prospect Ridge (www.prospectridge.com) is a leading investment manager specializing in private equity real estate investing in the U.S. Our highly experienced team of 30 investment professionals is led by Brahm Cramer and Jay Nydick, who established AllianceBernstein’s Real Estate Investments group in 2009. Together, this team has systematically developed and refined Prospect Ridge’s unique and disciplined approach to making investments across multiple asset classes, geographies, and points in time. Through Prospect Ridge and its predecessor entities, the team has invested in approximately 250 assets totaling over $9.0 billion of gross cost since inception.
For additional information, contact Williams Homes at firstname.lastname@example.org / (661) 222-9207.