Brookfield Homes Company

Shares of Brookfield Homes Corp. fell 3% a day after the home builder reported a sharp decline in new orders. The Del Mar, Calif., company said this week that new orders fell to 227 homes in the first quarter from 517 a year earlier. Brookfield said it expected to report net income of $13 million, or 46 cents a share, in 2006.

Builder Brookfield Homes Corp. said it had formed a joint venture with the California teachers' pension fund to develop residential land. Brookfield builds homes in California and the Washington, D.C., area. The builder and the California State Teachers' Retirement System will contribute equally as much as $400 million to buy, entitle and develop land for sale to residential home builders and developers, mostly in California.

Raising its profile among West Coast developers, Brookfield Homes of California Inc. said it will take control of the home-building operations of Catellus Development Corp. for $147.5 million in cash. Brookfield, the Costa Mesa subsidiary of Toronto-based Brookfield Properties Corp., will manage a new limited-liability company that will own 900 Catellus lots in 16 projects, primarily in Orange County. Catellus, one of the largest developers in the West, will retain a $22.

Shares of Brookfield Homes Corp. fell 3% a day after the home builder reported a sharp decline in new orders. The Del Mar, Calif., company said this week that new orders fell to 227 homes in the first quarter from 517 a year earlier. Brookfield said it expected to report net income of $13 million, or 46 cents a share, in 2006.

Builder Brookfield Homes Corp. said it had formed a joint venture with the California teachers' pension fund to develop residential land. Brookfield builds homes in California and the Washington, D.C., area. The builder and the California State Teachers' Retirement System will contribute equally as much as $400 million to buy, entitle and develop land for sale to residential home builders and developers, mostly in California.

Brookfield Homes, a San Diego builder that has constructed several developments in Orange County, is shopping for more land here now that two local housing developments--the Reserve in Orange and the Laurels in Dove Canyon--are sold out. The company's co-founder, William Davidson, resigned from the firm formerly known as Brookfield Davidson Homes earlier this year to pursue other interests as an independent builder. The company is owned by Brookfield Homes Ltd., a Canadian home builder.

A Toronto developer has reached a tentative agreement to build more than 1,000 homes and a large commercial project on a 270-acre Fullerton site where 13,000 people once worked for Hughes Electronics Corp., city and Hughes officials said Monday. Brookfield Homes Inc. has agreed to pay Hughes more than $50 million for the property, sources said.

Brookfield Homes has become the latest home builder to offer a home design studio where customers can customize their home as easily as choosing automobile options. But Brookfield has gone a step further, combining its home design studio with its mortgage lender unit. Brookfield's home design studio and its Southland Mortgage subsidiary have offices in the same Costa Mesa business park, allowing home buyers to line up a mortgage on the same day that they're selecting custom home features.

A Toronto developer has reached a tentative agreement to build more than 1,000 homes and a large commercial project on a 270-acre Fullerton site where 13,000 people once worked for Hughes Electronics Corp., city and Hughes officials said Monday. Brookfield Homes Inc. has agreed to pay Hughes more than $50 million for the property, sources said.

Though most residents find it tough to afford typical home prices, wealthier residents have created a strong demand for multimillion-dollar homes. Like some construction firms, Brookfield Homes Southland Inc., a Costa Mesa builder, is trying to cash in on the trend. The company has formed a new division, called Brookfield Custom Homes Inc., that will build eight to 10 custom homes a year throughout Southern California.

Though most residents find it tough to afford typical home prices, wealthier residents have created a strong demand for multimillion-dollar homes. Like some construction firms, Brookfield Homes Southland Inc., a Costa Mesa builder, is trying to cash in on the trend. The company has formed a new division, called Brookfield Custom Homes Inc., that will build eight to 10 custom homes a year throughout Southern California.

Raising its profile among West Coast developers, Brookfield Homes of California Inc. said it will take control of the home-building operations of Catellus Development Corp. for $147.5 million in cash. Brookfield, the Costa Mesa subsidiary of Toronto-based Brookfield Properties Corp., will manage a new limited-liability company that will own 900 Catellus lots in 16 projects, primarily in Orange County. Catellus, one of the largest developers in the West, will retain a $22.

Brookfield Homes has become the latest home builder to offer a home design studio where customers can customize their home as easily as choosing automobile options. But Brookfield has gone a step further, combining its home design studio with its mortgage lender unit. Brookfield's home design studio and its Southland Mortgage subsidiary have offices in the same Costa Mesa business park, allowing home buyers to line up a mortgage on the same day that they're selecting custom home features.

A Toronto developer has reached a tentative agreement to build more than 1,000 homes and a large commercial project on a 270-acre Fullerton site where 13,000 people once worked for Hughes Electronics Corp., city and Hughes officials said Monday. Brookfield Homes Inc. has agreed to pay Hughes more than $50 million for the property, sources said.

A Toronto developer has reached a tentative agreement to build more than 1,000 homes and a large commercial project on a 270-acre Fullerton site where 13,000 people once worked for Hughes Electronics Corp., city and Hughes officials said Monday. Brookfield Homes Inc. has agreed to pay Hughes more than $50 million for the property, sources said.

Brookfield Homes, a San Diego builder that has constructed several developments in Orange County, is shopping for more land here now that two local housing developments--the Reserve in Orange and the Laurels in Dove Canyon--are sold out. The company's co-founder, William Davidson, resigned from the firm formerly known as Brookfield Davidson Homes earlier this year to pursue other interests as an independent builder. The company is owned by Brookfield Homes Ltd., a Canadian home builder.