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McMillin expanding into asset management projects: developer will continue to build new homes.

Publication: San Diego Business Journal
Publication Date: 23-FEB-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
When times get tough, the tough reinvent themselves.

Numerous residential developers are expanding their business to include asset management services to landowners, banks, investors and receivers, as home sales have slowed.

Locally based Corky McMillin, parent of McMillin Homes, recently expanded its services to include asset management.

In addition to home building, McMillin businesses include land development, commercial developer, and mortgage and escrow services provider.

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"As some of the projects have slowed and stopped, we looked at the talent we had under our roof and now offer to people who own troubled properties," said Ken Baumgartner, president...

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