September 23, 1992 |
After nearly a year of virtual inactivity as the federal Resolution Trust Corp. choked off its financing while trying to sell it, the newly reorganized J.M. Peters Co. has obtained a $23.6-million investment that has put the home builder back to work. The financing, provided by a major pension fund whose identity was not disclosed, lets Peters Co. begin work on 335 homes in four South County projects. Grubb & Ellis Co.'s Newport Beach office arranged the funding.
September 21, 1988
ADDRESS: 3501 Jamboree Rd., Newport Beach. BUSINESS: The company builds single-family homes in Southern California. ASSETS: $241.6 million (Feb. 28, 1988). NUMBER OF EMPLOYEES: 215. TOP EXECUTIVES: Cash Name Position Compensation James M. Peters Chairman, president, $375,750 chief executive officer Christopher Gibbs Executive vice president, NA chief operating officer William J. Pittman Vice president, $410,625 chief financial officer Richard D. Bradshaw Vice president $479,897 Marquis L.
August 12, 1991 |
Nature of Business: Developer and builder of higher-priced single-family homes. Employees Total: 115 Orange County: 92 Stock Designation: Listed on American Stock Exchange as "Peters"; Ticker Symbol: "JMP" Friday's Stock Close: $2.25 Change: -$0.25 Analyst review: "The Resolution Trust Corp. is looking to sell J.M. Peters, but don't anticipate a sale for at least six months.
February 13, 1988 |
Newport Beach home builder J. M. Peters Co. will be sold for the second time in less than three years, this time to MDC Holdings Inc. of Denver. MDC is paying $100 million in "first mortgage receivables" for Peters, almost five times the $21 million that Dallas-based Southmark paid to acquire the firm in 1985.
September 19, 1987
J.M. Peters Co. Inc., a major Southern California home building firm based in Newport Beach, Friday said it was starting its previously announced initial public offering to raise $10.5 million. Peters is selling 12.7% of its common stock--or 1.75 million shares--at $6 per share, giving the company a market value of almost $83 million. Southmark Corp., a Dallas-based real estate and financial services firm, bought J.M. Peters last year for about $22 million and will retain 87.
December 17, 1993
J.M. Peters Co. Inc., a major regional home builder, said that earnings in its fiscal 1994 third quarter tripled to $6 million, with much of the increase due to a onetime gain of $4.4 million from the restructuring of a project financing agreement. Quarterly sales increased 58%, to $37.3 million from $23.5 million a year ago, as J.M. Peters completed 165 homes. Operating profit for the quarter climbed to $1.6 million, or 11 cents a share, from the year-earlier $200,000, or 1 cent a share.