Brookfield Residential Announces New Home Grand Opening in Riverside County
Apr 11 14
Brookfield Residential announced May 2014 opening of its newest neighborhood, Liberty at Morningstar Ranch. Located in Riverside County, just a short hop northeast of Temecula, the newest collection of homes will include three generously sized floor plans ranging from 3,120 to 4,157 square feet with an array of options for more bedrooms and outdoor living space. Prices are anticipated from the $400,000s. The new homes are being built with an eye toward flexible lifestyles. Homes will offer three to six bedrooms and two to 5.5 baths, plus two- to four-car garages. Plans include three different single- and two-story homes. The two-story homes offer dining spaces and one plan expands the gourmet kitchen's usability with an alcove for storage that can be converted to a prep kitchen. Buyers can opt to add outdoor rooms and a variety of other custom touches. The large master bedrooms have separate master bath spaces and large walk-in closets. An added option in select plans is the ability to convert a downstairs bedroom into a living suite with a separate entrance. Each home has extensive storage and a media room or bonus room -- or both. The homes are designed so the media room or bonus room can be converted to an added bedroom with bathroom, bringing the homes to either five or six bedrooms. And for those in need of extra storage space, these homes have it. The smallest plan has extra storage space and a laundry room connected to the two-car garage. Plan 2 features a tandem garage that accommodates three cars, and Plan 3 has a four-space garage.
Brookfield Residential Releases Seven New Homes in its Palo Verde Community in Carlsbad
Apr 9 14
Brookfield Residential has released seven new homes facing a private reserve in its Palo Verde community in Carlsbad. The one- and two-level homes are situated along an elevated street at the top of a ridge on the perimeter of the neighborhood in The Foothills. The homes in this phase range from 2,007 to 3,733 square feet. The homes in this phase have three to four bedrooms and 3.5 to 4.5 baths with open floor plans providing inviting areas for entertaining. Prices range from the $700,000s to $800,000s. Features include downstairs guest suites -- and in one case a detached casita; gourmet kitchens with family-sized islands and large master suites with oversized walk-in closets. Outdoor living space can be expanded with options for an outdoor kitchen and bifold doors, while the two-car garages include storage areas. Residents of Palo Verde at The Foothills can enjoy the community's resort-like amenities, including its 2.6-acre Swim Club's pool, spa and yoga exercise circle along with grassy neighborhood parks, a tot lot, walking trails and paddle tennis courts. For those seeking a more relaxed outdoor experience, there is an outdoor sitting area with a fireplace and a picnic area with barbecue facilities. Palo Verde is located within the Carlsbad Unified School District, known for its quality schools, and is across the street from the brand new Sage Creek High School.
Brookfield Residential Properties Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months Ended December 31, 2013; Provides Financial Guidance for the Fiscal 2014
Feb 11 14
Brookfield Residential Properties Inc. reported unaudited consolidated earnings results for the fourth quarter and twelve months ended December 31, 2013. For the quarter, the company reported net income of $83,510,000 and net income attributable to the company was $79,031,000 or $0.67 per basic and diluted share on total revenue of $554,700,000 against net income of $56,315,000 and net income attributable to the company was $55,901,000 or $0.52 per basic and diluted share on total revenue of $715,049,000 a year ago. Income before income taxes was $90,459,000 compared to $65,119,000 a year ago.
For the twelve months, the company reported net income of $148,613,000 and net income attributable to the company was $142,160,000 or $1.21 per diluted share on total revenue of $1,356,145,000 against net income of $92,539,000 and net income attributable to the company was $93,161,000 or $0.91 per diluted share on total revenue of $1,340,370,000 a year ago. Income before income taxes was $171,838,000 compared to $128,630,000 a year ago. Cash flows used in operating activities was $88 million compared to cash flows provided by operating activities of $30 million a year ago. During 2013, cash used in operating activities was impacted by an increase in land and housing inventory due to strategic land purchases, development activity, an increase in receivables and other assets, a decrease in accounts payable and other liabilities and net income. The company invested $77 million in unconsolidated entities and decreased restricted cash balances by $5 million. This was partially offset by distributions from unconsolidated entities of $25 million. During 2012, the company invested $15 million in unconsolidated entities, and increased restricted cash balances by $4 million with the acquisition of Playa Vista, which was partially offset by distributions of $35 million from unconsolidated entities. Total debt as of December 31, 2013 was approximately $1.4 billion.
For 2014, the company is positive and anticipate that based on current market conditions, income before income taxes for 2014 will be measurably higher than 2013. The company believes that the strong financial and operational results in 2013 will help in progress to a stronger 2014.