Dunhill Builds, Manages Former Rhodes Projects

LAS VEGAS-Dallas-based Dunhill Homes has assumed management of Rhodes Homes residential and commercial properties in the Las Vegas area and has taken over construction of Rhodes Cos. projects as Rhodes emerges from bankruptcy, according to announcements by the two firms. Dunhill says that it was selected to manage and develop the Las Vegas assets by a lender syndicate group that held the first lien on the assets under a restructuring plan approved by Judge Linda Riegle in the US Bankruptcy Court, District of Nevada.

Dunhill has begun building in the Rhodes Ranch and Tuscany master-planned golf-course communities. It is also managing several high-profile commercial parcels including 50 acres near the 215 beltway and Durango in Southwest Las Vegas.

At build-out, the assets are expected to yield over 2,300 residential units, 200 of which Dunhill Homes anticipates closing in 2010. This is expected to rank Dunhill Homes among the top 10 homebuilders in the Las Vegas Valley.

Dunhill Homes’ leadership has significant experience in the Las Vegas Valley. The company’s chairman is Richard Dix, former Mountain West Area president for Pulte Homes based in Las Vegas.

Dunhill’s operations in Las Vegas will be led by division president Don Boettcher, a home building industry veteran of more than 25 years. Boettcher most recently served on the executive management team for Pulte Homes’ Las Vegas division and worked with Pulte in various leadership roles throughout his career. His experience building in the Las Vegas Valley dates back to 1994.

Kevin Corbett will serve as VP of finance for the division. His experience in the region includes tenures with Centex Homes and Engle Homes. In addition, other Dunhill team members helped advise the lender steering committee during the Rhodes Homes bankruptcy proceedings over the last 12 months.

The Rhodes Cos. LLC and 31 affiliated entities have emerged from the bankruptcy proceedings. The companies first filed for Chapter 11 bankruptcy on March 31 and April 1 2009.