at Watt Companies
Watt Plaza, one of Ray Watt’s proudest projects, a 950,000 sq. ft. office space is built in the heart of Century City, as well as Sheraton Plaza LA Reina, Stouffer Concourse Hotel, and Desert Princess Country Club and Resort.
Watt sells its residential division to Beazer Homes. The sale includes 3,800 lots on 44 tracts; 19 in Southern California and 17 in Phoenix. Beazer Homes then takes the company public.
Watt enters into a JV with Goldman Sachs’ Whitehall fund, forming Watt Residential Partners.
Watt merges Watt Residential Partners with John Laing Homes, forming WL Homes.
Established Watt Communities/Residential under Company’s 5 year major operating entities, developing over 30 communities.
Residential Funding Corp. (RFC) purchases Goldman Sachs’ interest in WL Homes. Watt and RFC then enter into a JV owning WL Homes.
WL Homes is sold to Dubai-based Emaar Properties for over $1 Billion. At the time, WL Homes was building approximately 3,000 homes per year.
Watt enters in a JV with Centro Properties Group, known as Centro Watt. Centro Watt acquires over 700 shopping centers in 38 states with over 155 million square feet.
Centro acquires Watt’s ownership stake in Centro Watt, now known as Brixmor.
Watt invests in The New Home Company, led by former WL Homes executives, expanding THNC’s homebuildings and land acquisition operations throughout California and the Western United States.
Watt Investment Partners is formed to leverage Watt Companies’ permanent capital base and experienced in-house support organization. Watt Investment Partners is tasked with finding creative and opportunistic real estate investments.
Watt Capital Developers is currently helping to enhance underdeveloped communities.
Crenshaw Crossing, currently in pre-development, aims to enliven the intersection of Crenshaw & Exposition boulevards with approx. 40,000 SF of community-serving retails space, 2,500 SF of community space for neighborhood organizations, 34,000 SF of open space for community residents, and much more!
Lathrop marketplace, currently under construction, is a 600,000 SF community center located in California's central valley, with a 23,000 SF 'Built to Suit' supermarket, a one-of-a-kind in its neighborhood, with an additional 100,000 planned square footage for future development.