Gracepoint Builders Partners with IHP Capital Partners

Gracepoint Builders (Gracepoint Homes), a leading custom production builder in the Houston area, today announced that Gracepoint Builders and IHP have formed a partnership to create Gracepoint Holding Company. IHP is one of the nation's largest investment firms providing equity financing for residential development. The firm invests institutional capital in for-sale residential real estate projects throughout the United States. IHP and its investment partners have created neighborhoods and communities valued at more than $19 billion. Tom Cox, Jr. will serve as COO and John Dennard as CFO. "With the collapse of national housing this creates an opportunity for growth as the housing market continues to recover. Our goal is to develop a muti-city production homebuilding company," said CEO Randy Birdwell. "We will continue to use the brand Gracepoint Homes and have already begun expanding; our second market will be Phoenix."

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