October 9, 2012

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Henry Walker Acquires Fox Hollow Development

Press Release

October 9, 2012

Henry Walker Homes and sister company Strategic Capital Group has announced the acquisition of the largest portion of Fox Hollow, a 3,230-unit residential development in Saratoga Springs, Utah.

With the support of Zachary Hartman, Utah managing director of Land Advisors Organization, and jointly with Richmond American Homes, Henry Walker has purchased approximately 300 acres, including 250 improved single family lots, 420 unimproved paper lots and 20 acres zoned for high density multi family and regional commercial use.

The 1,035-acre master-planned community had been previous stalled due to economic and market conditions. The home builder is working with the City of Saratoga Springs and other landowners within the Fox Hollow project to reach a long-term extension of the agreement. Henry Walker will manage the development and serve as the primary homebuilder.

Centrally located 30 miles southwest of Salt Lake and 30 miles northwest of Provo, residents will benefit from the now-open Pioneer Crossing and the 2100 N. section of the Mountain View Corridor, providing faster access to the Point of the Mountain and the Salt Lake Valley.

“During the housing boom, Saratoga Springs was one of the fastest growing cities in Utah,” said John Stubbs, president of Henry Walker Homes. “Fox Hollow has an advantage over nearly all other subdivisions in the submarket based due to the number of improved lots. We are confident Henry Walker Homes will bring significant development expertise to complete the development.”

Founded in 2009, Henry Walker Homes is among Utah’s largest home builders with 40+ development communities and more than 2,500 lots in Salt Lake, Davis and Utah counties and St. George. The principals of Henry Walker Homes have been in the home building industry for more than 30 years and have been instrumental in the construction of thousands of homes in Utah.

Strategic Capital Group is a full service real estate investment & development company, headquartered in Centerville, Utah. SCG’s principals have decades of land development, home building, distressed asset acquisition, capitalization and development experience in the Mountain West. Collectively, SCG and HWH represent one of the largest real estate developers in Utah.

The Land Advisors Organization specializes in the innovative brokerage of land and improved property through deep market insight and unparalleled service to owners and consumers of real estate. With an exclusive focus on land-related assets, it integrates comprehensive information, cutting-edge mapping technology and the knowledge and experience of highly specialized professionals to help clients identify and capitalize on valuable opportunities in all kinds of economic environments.

For more information, visit: www.henrywalkerhomes.com; www.landadvisors.com

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