Rahway, NJ, December 10, 2007: Maplewood Homebuilders LLC has launched sales and marketing activities in ten communities located throughout central and southern New Jersey. The company, a joint venture between successful New Jersey real estate developer Glen Fishman, an entity affiliated with the hedge fund Plainfield Asset Management LLC and an entity affiliated with the hedge fund Del Mar LLC, entered the New Jersey real estate market earlier this year with a portfolio of ten premier residential communities.
All of the communities that are required to receive approval from the Department of Consumer Affairs (DCA) have done so; a requirement of the State of New Jersey to warrant financial protection on any new home bought and sold in the state. With sales offices now open to the public, these newly revitalized communities are ready to welcome homebuyers looking for innovative home designs, highly desirable locations and great value.
“Of course we’ve been eager to reopen these communities as quickly as possible,” said Kevin Fiore, COO for Maplewood Homes. “But the most important thing is to make sure we get it right. We’ve gone over every aspect of these communities, painstakingly – from the home designs to the pricing to the sales team – to make sure everything is in place to impress even the most discerning homebuyer. After a period of uncertainty at these communities, we want to reassure people that we are absolutely committed to completing the neighborhoods and providing an excellent opportunity for current and prospective buyers.”
The newly opened Maplewood Homes communities include: Bergen Mills Estates, with palatial estate homes on three+ acre sites in Monroe Township; The Landings at Manahawkin, featuring townhomes and single-level condominiums just across the bay from Long Beach Island; Winding Run at Little Egg Harbor, an exquisite community of beautifully wooded, spacious single family homes; Horizons at Woodlake Greens, a gorgeous active-adult community of single family homes in Lakewood; Hawkins Ridge at Jackson Township, featuring estate homes on one- to two-acre sites; and Cottage Gate at Navesink, featuring luxury, low-maintenance villa homes in Middletown, just minutes from the Sea Bright beaches and 35-minute ferry service to New York.
Additional Maplewood Homes communities under development include: Horizons at Mount Arlington, a beautiful active-adult community in Morris County; Waters Edge at Little Egg Harbor, an intimate community of 14 single family homes with waterfront lots; and Buckley Estates at Marlboro, featuring incredible estate homes on two-acre sites.
Maplewood Homebuilders expects to invest over $100 million into the further development of these properties, where construction had come to a halt in the wake of the Kara Homes bankruptcy. The company intends to quickly complete homes in all ten communities, while building shared amenities and improving the quality of the neighborhoods.
Maplewood Homebuilders brings together a unique blend of real estate development and investment expertise. With more than twenty years of real estate experience, Glen Fishman has teamed up with Plainfield Asset Management LLC, an investment adviser registered with the Securities and Exchange Commission. Plainfield manages in excess of $3 billion in equity capital.
As development of these communities continues, Maplewood Homes is actively exploring future growth opportunities to leverage its presence in the high-end residential market as well as the urban redevelopment platform. Maplewood Homes offers elegant, stylish and luxurious new homes in superbly designed communities featuring excellent school districts and easy commuting to major metropolitan areas. Neighborhoods are strategically situated in a variety of premium, convenient locations near excellent shopping and a wide variety of recreational amenities. Maplewood Homes offers luxurious layouts by reputable architects, which can be personalized to suit individual desires. Homes are built to cater to a wide range of design and budget requirements.
For more information about Maplewood Homes or any of its premier New Jersey communities, and to view their stunning collection of home designs, visit www.homesbymaplewood.com.
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