Gracepoint Builders (Gracepoint Homes) Merges with IHP Capital Partners
Gracepoint Builders (Gracepoint Homes), a leading custom production builder in the Houston area, today announced it will merge with IHP Capital Partners.
MAGNOLIA, TX, May 13, 2012 /24-7PressRelease/ -- Gracepoint Builders (Gracepoint Homes), a leading custom production builder in the Houston area, today announced it will merge with IHP Capital Partners, one of the nation's largest investment firms providing equity financing for residential development. The firm invests institutional capital in for-sale residential real estate projects throughout the United States. IHP and its investment partners have created neighborhoods and communities valued at more than $19 billion. The new combined company will be named Gracepoint Holding Company.
Tom Cox, Jr. will serve as COO and John Dennard as CFO.
"With the collapse of national housing this creates an opportunity for growth as the housing market continues to recover. Our goal is to develop a muti-city production homebuilding company," said CEO Randy Birdwell. "We will continue to use the brand Gracepoint Homes and have already begun expanding; our second market will be Phoenix."
Two names in Houston home building have been around for a long time: Randy Birdwell and Tom Cox, Jr. Both Randy and Tom began their home building careers in Houston a number of years ago; Randy began his housing career in the late 1970s and Tom in 1993. With concern for the ethics of homebuilding and a desire for upstanding moral character, together they founded Gracepoint Homes.
Gracepoint Homes looks forward to merging the two companies and to growing a successful, long-term partnership together.
Gracepoint builds homes priced from the $200,000's to the $800,000's with locations in Spring, Humble, Klein and The Woodlands.
33300 Egypt Lane Ste. E100
Magnolia, TX 77354
Contact: Tom Cox or Randy Birdwell
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