Washington, D.C. (PRWEB) May 15, 2013
BUILDER, the leading media brand in residential construction, honored Taylor Morrison with its Builder of the Year award last night at its Housing Leadership Summit in Scottsdale, Ariz. Presented annually during the BUILDER 100 awards dinner, the Builder of the Year is recognized for its excellence in successful business strategy, its achievements, and its corporate leadership.
Based in Scottsdale, Taylor Morrison is a land developer and builder of single-family detached and attached homes in the entry-level, move-up, luxury, and active-adult categories. The company builds in the U.S. as Taylor Morrison and Darling Homes, and in Canada as Monarch. In the U.S., Taylor Morrison builds in Arizona, California, Colorado, Florida, and Texas; Darling Homes builds in Texas. The company is No. 14 on the 2012 BUILDER 100 list that was released this week.
The past two years have been eventful for Taylor Morrison. In July 2011, it was carved off from Taylor Wimpey, a British builder that wanted to consolidate its operations in the United Kingdom. It completed a $1.2 billion sale to private equity partners.
While other builders were contracting, Taylor Morrison purchased Texas-based Darling Homes. Taylor Morrison builds in Austin and Houston, and the Darling acquisition expands the builder’s reach into the Dallas market.
In April, Taylor Morrison raised $723 million in an initial public offering that was buoyed by record-low mortgage rates and rising sales prices. Becoming a publicly traded company gives Taylor Morrison access to capital for expansion that private home builders such as Darling Homes lack.
In presenting the award, Jean Dimeo, BUILDER’s editor-in-chief, credited much of Taylor Morrison’s success to its president and CEO, Sheryl Palmer, and her team. When Palmer in 2007 took the reins of the firm formed by the merger of Taylor Woodrow and Morrison Homes, market conditions were terrible. Plus, she was the third CEO in 12 months, and the merged company—Taylor Morrison—presented daunting challenges.
“Palmer and her expert team organized two companies into one unified staff working together efficiently and effectively,” said Dimeo. “Plus, they navigated a declining market, sale from a British company, a private equity purchase, and now a public offering.”
The Builder of the Year is chosen from the ranks of the BUILDER 100 list produced by BUILDER, which is featured in the magazine’s May 2013 issue and on builderonline.com. For more information, visit http://www.builderonline.com/builder100/2012.aspx.
Published by Hanley Wood, BUILDER is the leading brand in the residential construction industry and serves as the magazine of the National Association of Home Builders (NAHB). For more than three decades, BUILDER has provided essential news, information and resources about products, technologies, trends, regulatory requirements and best practices to help home building professionals innovate for success. With an integrated platform encompassing print, online and in-person, BUILDER is a trusted source for top builders, architects and other industry professionals across the country.
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