Business Description
Green Brick Partners, Inc. (formerly named BioFuel Energy Corp.) was incorporated
as a Delaware corporation on April 11, 2006, to invest solely in BioFuel Energy,
LLC, a limited liability company organized on January 25, 2006, to build and
operate ethanol production facilities in the Midwestern United States. On November
22, 2013, the Company disposed of its ethanol plants and all related assets.
Following the disposition of these production facilities, we were a public shell
company with no substantial operations.
We are a uniquely structured company that combines residential land development
and homebuilding. We acquire and develop land, provide land and construction
financing to our controlled builders and participate in the profits of our controlled
builders. Our core markets are in the high growth U.S. metropolitan areas of
Dallas, Texas and Atlanta, Georgia. We are engaged in all aspects of the homebuilding
process, including land acquisition and the development, entitlements, design,
construction, marketing and sales and the creation of brand images at our residential
neighborhoods and master planned communities. We believe we offer higher quality
homes with more distinctive designs and floor plans than those built by our
competitors at comparable prices. Our communities are located in premium locations
in our core markets and we seek to enhance homebuyer satisfaction by utilizing
high-quality materials, offering a broad range of customization options and
building well-crafted energy-efficient homes. We seek to maximize value over
the long term and operate our business to mitigate risks in the event of a downturn
by controlling costs and quickly reacting to regional and local market trends.
We are a leading lot developer in the Dallas and Atlanta markets and believe
that our strict operating discipline provides us with a competitive advantage
in seeking to maximize returns while minimizing risk. We currently own or control
over 4,700 home sites in premium locations in the Dallas and Atlanta markets.
We consider premium locations to be lot supply constrained with high housing
demand and where much of the surrounding land has already been developed. We
are strategically positioned to either build new homes on our lots through our
controlled builders or to sell finished lots to large unaffiliated homebuilders.
