Overview

  • In 2012, Lakeside invested in land in the Inland Northwest
  • To transform the land into a valuable investment, Lakeside partner Melissa Wells spearheaded the creation of Architerra Homes
  • Architerra sold its first home in 2015 and continues to develop communities

Long-term Impact

  • Through March 2020, Architerra homes has built and sold 350+ homes in four communities: The Trails, The Reserve, Foxtail, and Woodbridge
  • In late 2019, Lakeside purchased an additional 1,050 acres to develop a master planned community to continue bringing growth to the Inland Northwest for decades to come
  • Architerra continues to invest in both its financial, team and resource management systems

Details

In 2012, Lakeside saw an opportunity to purchase attractive land in the Inland Northwest at a discounted price. The partnership knew that this easy access, in-town real estate would be tremendously valuable for future residential communities. Lakeside’s internal analysis and risk assessment team determined the best way to de-risk the land investment was to go vertical – to build on the land. In 2013, Melissa Wells spearheaded the creation of Architerra Homes and recruited the talent needed for a vertically integrated land development and homebuilding company. 

After breaking ground in 2014, Architerra homes sold its first home in 2015. To date, Architerra has built and sold over 350 homes in The Trails, Foxtail, The Reserve, and Woodbridge communities. Architerra continues to invest in both its financial and team/resource management. In the last year, Lisa Briner and Jason Eason joined Architerra as CFO and Head of Purchasing, respectively. Their experience, leadership, and vision have already driven substantial cost improvements that Architerra can pass onto homebuyers.

In late 2019, Lakeside completed the acquisition of an additional 1,000 acres of land. This new land holdings will allow Architerra to develop a master planned community, providing growth in the Inland Northwest for decades to come. The plans for the master planned community include, but are not limited to single family homes, multi-family living, education facilities, and neighborhood commercial opportunities. The sustained growth and cost savings realized by the company has made it another Lakeside Capital private equity success story.

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