DMB Associates, Inc. announced its intention to change the DMB Pacific Division to DMB Pacific Ventures. Eneas Kane, president and CEO of DMB Associates, will lead the new company.
DMB Pacific Division has been involved in several expansions outside of Arizona in the past decade, specifically in California and Hawaii. However, DMB Associates, Inc. and its major equity partners says that with the industry now taking a turn for the better DMB Pacific Division will do well as a separate company.
Drew Brown, DMB founding partner and board chairman said, “DMB Associated continues its focus on legacy projects.” Brown also mentioned that having the support of the founding partners, a strong management team and a more favorable market will allow their new DMB communities to flourish.
“With a proven track record of success and well-capitalized for the future, DMB Pacific Ventures will move quickly into an active expansion mode,” Kane said. With the launch of DMB Pacific Ventures, Kane is also looking forward to new opportunities and building on a shared legacy.
DMB Associates’ Chief Operating Officer (COO) and head of DMB’s Legacy Division, David Bruner, said, “Our Legacy Division is poised for dramatic growth as we look toward new development at Eastmark, One Scottsdale, Rancho Mission Viejo and in our legacy communities.” Bruner will continue with DMB Associates as COO.
Community projects and partnerships will continue to be the focus for DMB Associates. Currently, they are partnered with DC Ranch, Verrado and Marley Park. GM Proving Grounds, now known as Eastmark, is the company’s newest project. They are currently in the beginning stages and the completion date is scheduled for 2013.
Pacific Division’s projects will not be affected by the companies change to DMB Pacific Ventures. Ownership interests in all DMB Pacific projects will also not be changed. DMB Pacific Ventures will be headquartered in San Francisco’s Bay Area.
About DMB Associates, Inc.:
DMB Associates, Inc. was founded in 1984. This real estate company has real estate holdings through affiliated companies. DMB’s projects include signature commercial properties, resort/recreational and primary home communities, country clubs, health clubs and spas located in Arizona, California, Hawaii and Utah. DMB Associates, Inc. improve their communities with their projects that add beauty and enrich.
DMB stands for the first initials of the company’s founding partners — Drew Brown, Mark Sklar and Bennett Dorrance. They have created their company on mutual respect, integrity, fairness and a commitment to stand behind their business decisions.