Fund For Builders, LP Growth Update
Tim Lyons Appointed Chief Financial Officer; David J. Reinsdorf Appointed Vice President-Asset Management; New Office Open in Northbrook, IL.
Chicago, IL, June 29, 2006 --(PR.com)-- Robert A. Judelson and Jerry M. Reinsdorf report growth plans on behalf of The Fund For Bulders, LP (FFB), which is planning its third Fund under its corporate umbrella.
Established in April 2005, FFB provides sale and leaseback financing for model homes to builders of single-family homes across the United States. FFB affords builders a stronger position with the lending and investment community by allowing them to create simplified balance sheets.
Additional news includes the appointment of Tim Lyons as Chief Financial Officer; the appointment of David Reinsdorf as Vice President-Asset Management; and the opening of a new office at 400 Skokie Blvd, Ste 580; Northbrook, IL 60062; 847.498.6400.
To date, FFB has two separate funds under its corporate umbrella, which, collectively have invested over $40 million with six builders developing homes in 10 states throughout the U.S. Targeting primarily new developments and sub-divisions, FFB typically invests in homes ranging in price from $150,000 to $350,000. Among the new services to be offered by FFB are financing and joint ventures for land acquisitions and single-family subdivisions.
About Tim Lyons
Appointed CFO, Tim Lyons’ background includes over 20 years of experience in financial reporting and analysis within the real estate industry. Most recently with Grubb and Ellis, Lyons’ responsibilities included the financial structuring of mergers and acquisitions and providing financial support for the company’s owners and creditors.
Prior to that, Lyons spent 12 years at The Balcor Company, one of the nation’s largest real estate investment firms which was sold to American Express. There, Lyons held a number of accounting and finance positions.
Lyons received his BS from The University of Illinois at Urbana-Champaign; and his Master of Management degree from Northwestern University’s Kellogg Graduate School of Management. Lyons is a Certified Public Accountant.
About David J. Reinsdorf
Appointed Vice President-Asset Management, Reinsdorf oversees the due diligence reporting and asset management on behalf of FFB.
Reinsdorf’s extensive knowledge of the Residential New Construction industry includes 20 years of experience in finance, construction and marketing.
His background also includes the oversight of the construction and rehabilitation of over 250 low income housing apartments with a projected total budget of over $50 million dollars financed by Federal, State and Private sources. Reinsdorf has also performed the asset management functions for a homebuilding mezzanine boutique lender with over $20 million in investments for projects with a market value of over $200 million dollars. Previous to his Residential Real Estate undertakings, he was an Assistant Vice President at LaSalle National Bank in Chicago.
Reinsdorf has a Bachelor of Science in Business Administration from American University in Washington, D.C. and is the proud father of four children.
About The Fund For Builders
The primary business of FFB is to purchase and leaseback model homes built by prominent homebuilders. In addition, FFB will participate in joint ventures of subdivision development. The major thrust at present will be the purchase and leaseback of the model homes. The leaseback affords the builders the opportunity to continue using the model homes until the development is complete, at which time the models will be sold. Investors in the Fund have the opportunity to diversify their investments into real estate by participating in the booming residential real estate market. Demographics show this market should be strong for years to come. FFB believes this business creates a “win-win” opportunity for both builder and investor.
For more information on The Fund For Builders, 400 Skokie Blvd. Ste 580; Northbrook, IL 60062; Telephone: 847.498.6400.
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Established in April 2005, FFB provides sale and leaseback financing for model homes to builders of single-family homes across the United States. FFB affords builders a stronger position with the lending and investment community by allowing them to create simplified balance sheets.
Additional news includes the appointment of Tim Lyons as Chief Financial Officer; the appointment of David Reinsdorf as Vice President-Asset Management; and the opening of a new office at 400 Skokie Blvd, Ste 580; Northbrook, IL 60062; 847.498.6400.
To date, FFB has two separate funds under its corporate umbrella, which, collectively have invested over $40 million with six builders developing homes in 10 states throughout the U.S. Targeting primarily new developments and sub-divisions, FFB typically invests in homes ranging in price from $150,000 to $350,000. Among the new services to be offered by FFB are financing and joint ventures for land acquisitions and single-family subdivisions.
About Tim Lyons
Appointed CFO, Tim Lyons’ background includes over 20 years of experience in financial reporting and analysis within the real estate industry. Most recently with Grubb and Ellis, Lyons’ responsibilities included the financial structuring of mergers and acquisitions and providing financial support for the company’s owners and creditors.
Prior to that, Lyons spent 12 years at The Balcor Company, one of the nation’s largest real estate investment firms which was sold to American Express. There, Lyons held a number of accounting and finance positions.
Lyons received his BS from The University of Illinois at Urbana-Champaign; and his Master of Management degree from Northwestern University’s Kellogg Graduate School of Management. Lyons is a Certified Public Accountant.
About David J. Reinsdorf
Appointed Vice President-Asset Management, Reinsdorf oversees the due diligence reporting and asset management on behalf of FFB.
Reinsdorf’s extensive knowledge of the Residential New Construction industry includes 20 years of experience in finance, construction and marketing.
His background also includes the oversight of the construction and rehabilitation of over 250 low income housing apartments with a projected total budget of over $50 million dollars financed by Federal, State and Private sources. Reinsdorf has also performed the asset management functions for a homebuilding mezzanine boutique lender with over $20 million in investments for projects with a market value of over $200 million dollars. Previous to his Residential Real Estate undertakings, he was an Assistant Vice President at LaSalle National Bank in Chicago.
Reinsdorf has a Bachelor of Science in Business Administration from American University in Washington, D.C. and is the proud father of four children.
About The Fund For Builders
The primary business of FFB is to purchase and leaseback model homes built by prominent homebuilders. In addition, FFB will participate in joint ventures of subdivision development. The major thrust at present will be the purchase and leaseback of the model homes. The leaseback affords the builders the opportunity to continue using the model homes until the development is complete, at which time the models will be sold. Investors in the Fund have the opportunity to diversify their investments into real estate by participating in the booming residential real estate market. Demographics show this market should be strong for years to come. FFB believes this business creates a “win-win” opportunity for both builder and investor.
For more information on The Fund For Builders, 400 Skokie Blvd. Ste 580; Northbrook, IL 60062; Telephone: 847.498.6400.
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Contact
Fund For Builders
Laura Windt, Elizabeth Berger Associates
312.397.8444
www.elizabethberger.com
Laura Windt, Elizabeth Berger Associates
312.397.8444
www.elizabethberger.com
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