Jeff Handlin, who spearheaded Denver-based M.D.C. Holding’s entry into the Seattle housing market and has been in charge of buying distressed properties for the giant home builder for the past two years, has resigned, a trade publication reported today.
John McManus, editor-in-chief of Big Builder Online wrote that Handlin, the National Vice President of Land Acquisitions for Richmond American Homes, will pursue other opportunities in the distressed land investment arena. Richmond American Homes is owned by M.D.C. McManus said the parting was apparently amicable and quoted Handlin as saying he hopes to work with “the M.D.C. folks for years to come.”
“M.D.C. had been a builder whose financial conservatism plays out on the land investment side, but on other parts of its business analysts have been critical of fixed-cost excessiveness, relative to peers like Ryland, Meritage, and Standard Pacific… So, it appears M.D.C. will, somewhat late to the party, get even leaner in its operations–particularly in the field–than it has been,” McManus wrote.
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