On the heels of recent extensive growth, Stella Homes, the DeLand, Florida based home builder has announced additional expansion and, now, strategic debt financing via a private investment fund.
DeLand, FL, August 06, 2016 –(PR.com)– Last month, in the wake of several new construction projects Stella Homes announced the hiring of Construction and field manager Curtis Jones, formerly of Engle Homes and various well-known local commercial projects. “The hiring of Mr Jones was paramount to the much needed assistance we’ve required across the board on our new and existing residential portfolio,” said company President Brandon Garrett.
In addition to the hiring of Mr Jones, Stella has just signed a lease in the Downtown District of Deland on warehouse space. The company believes that this will allow them to save costs on the comprehensive supply they currently control and inventory on construction materials and equipment. Mr Garrett told us, “This centralized warehouse space allows us to have ready, at a moments notice, the equipment and materials needed to work on our current portfolio or to get tools or supplies to a project site ASAP.”
In addition, the company has elicited interest from several investment funds, including a NYC based private investment fund, which will allow for the addition of several new home projects in West Volusia. Company VP David Ferri stated, “While we are not interested in an equity partnership, we are pleased with the amount of interest our company has generated from some investment managers. We have been quietly acquiring land, some from the past projects of the larger builders. As you can imagine, this has created a strong value play for our company. We are excited about a new strategic debt relationship, with a large private fund, that will allow us to scale up in such a way that is non-dilutive to our current shareholders.”
Stella Homes is relatively new to the West Volusia area and has focused on the single family new home space. The company is a Certified General Contractor and offers a range of services through it’s boutique real estate brokerage arm, Stella Realty Group, both based in Downtown DeLand.
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