Corporate Profile
Celebrating A Decade of Excellence in Land Development and Homebuilding As A Public Company
Green Brick Partners, Inc., the third largest homebuilder in Dallas-Fort Worth, is a publicly traded company listed on the New York Stock Exchange under the ticker symbol “GRBK.” We are a diversified homebuilding and land development company that operates through its seven subsidiary homebuilders in Texas, Georgia, and Florida. Over the last 10 years, we have been committed in building high quality neighborhoods in some of the best markets in the country, interwoven with modern technologies, innovative design and architecture. Our strategic advantages in sourcing and self-developing land in infill and infill-adjacent submarkets, as well as expert local teams, have been instrumental to our growth and expansion over the last decade. We believe our unique approach enables us to provide superior value to our customers and the communities in which they live, as well as long-term returns for our investors and stakeholders.
Company History
How It All Started
Green Brick Partners was co-founded by David Einhorn, the founder of Greenlight Capital – the “Green” and Jim Brickman – the “Brick.” The two started working together in 2002 when they teamed up to investigate a public company engaged in massive mortgage fraud. They soon became partners and friends. Details about their initial work together is detailed in David’s book, “Fooling Some of the People All of the Time.”
Prior to founding Green Brick, Jim had a successful career in real estate and decades of experience in homebuilding. In 2008, when the housing market collapsed, Jim started a real estate equity fund with David that purchased lots and lent money to distressed builders. That fund was named JBGL, and it was the predecessor to what ultimately became Green Brick Partners.
After the real estate collapse, most banks could not or did not want to own or lend on land or construction, particularly land owned by distressed builders that needed additional capital to develop the lots and construct the homes. JBGL took advantage of the opportunity and began actively buying land, lots, and loans that banks did not want to hold on their balance sheet. Additionally, JGBL lent money and took a controlling interest in some experienced builders who were in financial distress.
By 2013, the housing market had rebounded. By this point, JBGL had accumulated a strong land position and owned controlling interests in builders that were now turning a profit. Realizing the need for permanent capital to help these builders operate and grow, in 2014, through a reverse recapitalization, JBGL became Green Brick Partners, Inc. and began trading on the NASDAQ. Jim took the mantle as the CEO of Green Brick, while David became the chairman of the Board. Since going public, Green Brick has grown from total revenue of $291 million in 2015 to $1.8 billion in 2023. Since 2017 EPS has grown more than twenty-fold to $6.14 in 2023.
Today, Green Brick Partners is a diversified homebuilding and land development company, and the third largest homebuilder in Dallas-Fort Worth – one of the largest housing markets in the country. Green Brick acquires and develops land and builds homes through seven brands of builders in five major markets across three states. Additionally, Green Brick Partners retains 100% ownership in Green Brick Title and 49% ownership in BHome Mortgage.
Green Brick is now traded under the ticker symbol “GRBK” on the New York Stock Exchange and was added to the Russell 2000 in 2015 and the S&P SmallCap 600 Index in 2022. Additionally, Green Brick has been named by Fortune Magazine as one of the fastest growing public homebuilders and land developers in the country for five consecutive years.
Our Values - H.O.M.E
Honesty
Honesty and integrity are the foundation of any lasting business and we
strive each day to treat our customers, employees, and shareholders like
we would like to be treated.
Objectivity
Objectivity drives our business practices and strategies, and our goal
is to make decisions utilizing best practices and available market data
and information.
Maturity
The emotional intelligence of our team is integral to our success. In
order to accomplish our common goals, we must be solution driven and
view every challenge as an opportunity. Emotionally intelligent
employees see the bigger picture and attempt each day to work
collaboratively toward a shared goals and successes.
Efficiency
Efficiency is the result of competent, hard-working people who perform
with a competitive spirit to produce rapid and consistent results. We
continually evaluate our processes and systems in an effort to remain
among the most efficient in our industry.
Our Vision
We are founded on the belief that locally focused land development is the starting point for a builder’s profitability and that both homebuilding and land development are best executed on a local, decentralized basis. We manage land risk through rigorous underwriting and provide our subsidiary homebuilders with centralized administrative support.
We take pride in our diverse home offerings, geography, and price points that serve a wide range of customer segments and needs. This is possible through our subsidiary builder brands that are composed of seven subsidiary homebuilders. Each of our builders is unique and has a strategic and market niche advantage. All of our builders share the same commitment to building high-quality homes with superior craftsmanship and innovative designs. And our builders are united by our core values that we call H.O.M.E. Honest, Objective, Mature, Efficient.
Additionally, we offer comprehensive solutions to our homebuyers through our affiliated entities, including providing mortgage offerings and title services to make buying a home a more seamless and turnkey experience.
We also understand that our success hinges on our team. We aim to hire and retain quality, driven, and experienced employees who exemplify our HOME values. We recognize that Green Brick’s success and future accomplishments can only be achieved through the day-to-day efforts of our team. Therefore, we seek to provide a culture that breeds success and long-term growth both for our employees and the company.