Home Commercial Legacy Partners Recapitalizes With Collier Enterprises

Legacy Partners Recapitalizes With Collier Enterprises

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(EDITOR’S NOTE: The new ownership breakdown of Legacy Partners will be 50 percent owned by Legacy and 50 percent by Collier Enterprises. Legacy’s main investment activity going forward will be through the development of new apartment projects. This will happen in both the San Francisco Bay Area and Seattle. Its next new project in the Bay Area will be in the East Bay city of Livermore. This development should be started mid-year. Legacy is also planning a new development in 2020 in the Ballard neighborhood of Seattle.)

FOSTER CITY, Calif. (March 21, 2019)— Legacy Partners, a privately owned national real estate firm, announced today the recapitalization of the firm with Collier Enterprises, a private equity, real estate investment and development company located in Naples, Florida. 

With Legacy Partners’ more than 50 years of multifamily development and management experience across the U.S., the involvement of Collier Enterprises will enable the real estate firm to continue their activities, which previously have occurred primarily in the Western United States, as they continue to expand with the recent opening of Orlando, Florida, and acquiring property for development in Hawaii. 

Preston Butcher, the founder of Legacy Partners, will continue as Chairman; W. Dean Henry will continue as CEO; and Guy Hays will continue as President. 

“We see this capitalization as an opportunity to usher in the next era of growth for Legacy Partners,” said CEO W. Dean Henry.  “Our team will continue to focus on the regions where we have been successfully developing communities that appeal to those who want to live, work, and dine in walkable, cultural environments.  We also see significant opportunities in the Southeast United States, as well as the state of Hawaii where we are actively involved today.” 

Legacy Partners has either recently completed or has under construction nine rental communities in four western states.  In addition, five new communities are expected to begin construction in 2019 and seven more in 2020. 

“Legacy Partners is an organization that we know well. The depth and breadth of their market knowledge, the talent and skill of their development partners and their track record of building apartment communities of excellence is quite impressive,” said Donald E. Huffner, Collier Enterprises President and CEO. “We are excited to invest and align ourselves with Legacy Partners as together we expand into a national platform.”  

About Legacy Partners

Legacy Partners, a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops and manages multifamily communities throughout the United States.  Legacy Partners has regional offices in California, Colorado, Florida, Texas, and Washington and have developed or purchased more than 60,000 apartment homes in Arizona, California, Colorado, Florida, Nevada, Oregon, Texas, and Washington.  Since inception, Legacy Partners has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently returning exceptional results. Legacy Partners provides management services for its own portfolio, as well as other owners.  Combined, Legacy Partners manages a portfolio of over 60 multifamily communities with more than 14,000 apartments homes.  For further information, please visit www.legacypartners.com. 

About Collier Enterprises

Collier Enterprises is nationally recognized for creating communities and clubs of quality, style and environmental sensitivity.  Its commitment to the environment has won awards from organizations including Audubon International and the Council for Sustainable Florida.  Headquartered in Napes, Florida, Collier Enterprises is primarily engaged in real estate investment and entitlement, and agribusiness.  The company was established in 1976 under the leadership of Miles C. Collier and traces its roots to Barron Gift Collier who founded Collier County in 1923.  For more information, visit www.collierenterprises.com.