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O.C. BUSINESS PLUS | HEARD ON THE BEAT / REAL ESTATE

Standard Pacific Makes Forbes' Platinum 400 List of Leaders

February 20, 2001|DARYL STRICKLAND

Home builders' fortunes have surged over the last year, especially those with large stakes in California, where housing demand has been robust.

One of the fastest-growing builders, Standard Pacific Corp. in Irvine, has been named to Forbes magazine's list of top companies for the first time. The Platinum 400 List consists of "industry leaders in long-term and short-term return on capital, including growth in both sales and earnings."

Kaufman and Broad Home Corp. of Los Angeles was the only other builder based in the Southland that made the cut. Almost all of the national home builders that operate in Southern California were ranked, including Richmond American Homes, Lennar Corp., Toll Brothers Inc., Pulte Corp., D.R. Horton Inc. and Del Webb Corp.

Standard Pacific's annual sales have grown an average 24% over the last five years. The company has built 43,000 homes in its 34-year history, in California, Texas, Arizona and Colorado.

Standard Pacific sold a record 3,871 homes last year, generating profits of $100.1 million and revenues of $1.32 billion, both all-time highs.

In Orange County, where about 20% of the company's homes were built last year, Standard Pacific sees limited opportunities because land is in short supply. "Just maintaining that level would be quite an accomplishment," said Andrew Parnes, the company's chief financial officer. More sites exist in Ventura, San Diego, Riverside and San Bernardino counties, where the company increasingly is developing new homes, he said.

Daryl Strickland covers real estate for The Times. He can be reached at (714) 966-5670 and at daryl.strickland@latimes.com.

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