Residential Development
Ardent has acquired, entitled, or developed over 10,700 single family lots, land for 2,300 multifamily housing units, and 2,500 single family rental homes. Currently, Ardent manages a residential portfolio totaling $550 million+ in assets under management.
Investments
Acquisition
Purchasing residential land throughout the U.S.
Partnership
Serving as a capital or operating partner.
Team
Gregg Goldenberg
Partner & Vice Chairman| V-Card
Gregg Goldenberg is a Partner at The Ardent Companies. Prior to Ardent, Gregg was the former President and CEO of Acadia Homes & Neighborhoods, which was acquired by Taylor Morrison in January of 2016 for $85 million. Gregg has more than 25 years of experience in various leadership roles in the homebuilding and land development business. Acadia began operations in 2010, and by 2013 it was recognized as Atlanta’s 5th fastest growing privately-held company and ranked as the 10th largest homebuilder. Prior to Acadia, Gregg started his own development company that identified, entitled, purchased, and developed residential communities for regional builders and housing giants like Beazer Homes and the Ryland Group. Prior to starting his own venture, Gregg was Senior Vice President of the Southeast Region at Morrison Homes. He oversaw and managed all the land acquisition, homebuilding, and mortgage finance operations in Atlanta, Jacksonville, Orlando, Sarasota, and Tampa. Gregg and his management team closed over 2,100 homes for $510 million in revenue, and purchased over 4,000 residential lots in 2004. Gregg received a Bachelor of Science in Commerce from the University of Virginia and a Master of Business Administration in Real Estate Finance from The University of North Carolina at Chapel Hill.
Todd Terwilliger
Partner| V-Card
Todd Terwilliger is a Partner at The Ardent Companies and the Head of Residential Real Estate. Prior to forming Ardent, Todd was a Managing Director at Rialto Capital where he and his team managed the Southeastern U.S. Real Estate portfolio. In addition to real estate operations, his team was also involved in all underwriting for non-performing loan acquisitions and direct real estate investments across Rialto’s platform. Prior to Rialto, Todd had a strategic partnership with Fairway Capital in a venture that acquired distressed loans from commercial banks secured by real estate throughout the Southeast. Before the venture with Fairway, he was Vice President of Land Acquisition and Development at Pulte Homes Corporation where he managed site selection, contract negotiation, and planning and forecasting for the Pulte and Del Webb branded communities. Todd received a B.S. in Engineering Technology from the University of Dayton Ohio and an M.B.A. from Georgia State University.
Tyson Reilly
Executive Director| V-Card
Tyson Reilly is a Director at The Ardent Companies. With 20 years’ experience in the U.S. property industry, Tyson specializes in the identification of development sites in major U.S. job growth and coastal markets. Tyson currently oversees sourcing, due diligence, entitlements, and acquisition of for- rent and for-sale residential development sites on behalf of Ardent across the Carolinas. He has a proven track record in the industry focusing on investment in single family detached and medium/high density residential, office, retail, and self-storage. Over the past 20 years, Tyson has been responsible for the sourcing and acquisition of nearly 30,000 for-sale and for-rent residential units and over 4 million square feet of commercial space. Prior to joining Ardent in June 2019, Tyson was an executive managing director and co-head of acquisitions at Drapac Capital Partners through the deployment of four opportunistic real estate funds. He was responsible for the sourcing of nearly 20,000 for-sale and for-rent residential units across 45 projects in 8 states. Prior to Drapac Capital Partners, Tyson was the co-founder and managing principal for an investment and advisory firm specializing in land investment and entitlements on behalf of private and institutional investors. He was responsible for sourcing and entitling land for over 5,000 residential units and over 2 million square feet of commercial.
Sam Levere
Analyst| V-Card
Sam Levere is an Analyst at The Ardent Companies. His primary responsibilities include underwriting, market research, and asset management for the residential team. Prior to joining Ardent in June 2021, Sam held internships at ICP Group based out of Dallas, Texas, and MidCity Real Estate Partners. Sam received a Bachelor of Business Administration in Finance and Real Estate from the University of Alabama and a Master of Science in Finance from Southern Methodist University.Investment Spotlight
Summit Square
Charlotte, NC
Located just south of downtown Charlotte in the trendy South End neighborhood, Summit Square is a 36 lot townhome subdivision that Ardent developed and sold to a national homebuilder. Ardent purchased an occupied single-tenant flex industrial building on approximately 2 acres and worked through a rezoning and full entitlement process in order to develop this in-town site. Upon receiving the demolition permit, the tenant vacated the building and the horizontal development was completed per the townhome pad delivery schedule. The homebuilding purchased the pads as they became available and has since sold out of units.
Niblock – Hunton Forest
Concord, NC
Ardent acquired an off market 120 acre site in the Concord submarket, one of the northern suburbs of Charlotte. Through the value engineering process, the site plan was increased from 311 lots to 361 lots and the horizontal infrastructure was planned out in three phases. In addition to the lot development, a pool and cabana amenity has been constructed for use by the homeowners. The initial phase of lots was contracted and subsequently sold to a national homebuilder. The second and third phases are currently under active development and a second national homebuilder has been contracted on some of the phase two lots. Both builders are actively buying lots and selling homes within the subdivision.
Solitude at Whites Creek
Ocean View, DE
Ardent formed a Co-GP joint venture with a local developer to acquire a small portfolio of assets from a major regional bank under a short sale agreement. The key asset in the acquisition was the 40 acres of raw land, which Ardent developed into the Solitude at Whites Creek subdivision. In addition to the 119 lots which are being sold to a highly regarded regional homebuilder, the neighborhood includes a world class amenity center including an outdoor living room with a fireplace, an infinity edge pool, a dock with boat and jet ski slips and lounge chairs and hammocks, all set directly adjacent to White Creek. The lots are nearly sold out and this investment has led to two additional Ardent land development investments in the Delaware market.
Buckhorn Preserve
Apex, NC
During a 15 month contract period, Ardent transformed 123 acres of land into a fully engineered and permitted residential subdivision. Shortly after approval, Ardent sold the property to a national homebuilder who has since completed the land development and is beginning to build and sell homes. In addition, they are building a large clubhouse with two pools. The property is located in Apex NC, a western suburb and one of the fastest growing areas of the Raleigh MSA.