INVESTOR OPPORTUNITIES WITH LEDGESTONE DEVELOPMENT GROUP
Ledgestone Development Group is a vertically integrated real estate development firm with more than 100 years combined experience. We have over $250 million in current investments. Ledgestone manages every stage of property development from acquisition to completion. Today’s consumer demands and preferences are continually shifting, Ledgestone stays informed about fluctuating market trends in Texas real estate, economics, and cultural climates through constant research allowing flexibility to capitalize on those changes.
August 2, 2021
To Whom It May Concern:
It is with great pleasure that I submit my unconditional recommendation for Legacy DCS, all of its subsidiaries, Carrie Brewer and Cass Brewer (hereafter collectively referred to as “Legacy”).
I have had the good fortune to include Legacy as a client since 2008. During this time, I have originated over 120 loans to Legacy that total tens of millions of dollars. In addition to lending activity, Legacy is also a depositor.
At this time, Legacy’s relationship includes a multi-million dollar Guidance Line of Credit and dozens of deposit accounts. All loans and deposit accounts have been well maintained and are in good standing.
My loan history to Legacy has been primarily related to construction. The projects have typically been in the Greater Austin area but also include the Texas Gulf Coast. These include:
Single family residential properties (typical lot/block designation and condo regime)
Attached single family residential
Throughout the years, Legacy has exemplified professionalism, dependability and has demonstrated a high quality of character. Examples include:
All projects completed on time and within budget
Property taxes paid on time
Insurance has been adequate with no lapse in coverage
Deposit accounts properly maintained with zero insufficient items
Construction advances supported by work that has already been completed
On-site supervision of their projects
Delivery of q quality product
Legacy and I have a long history. The group has continuously exemplified quality product, high character and community focus. it is my honor to provide Legacy with my highest level of support.
Relationship Manager/Senior Vice President
To Whom It May Concern:
It is with great pleasure that I write this letter in support of Cass Brewer and his companies, Legacy DCS and Legacy MCS. I’ve had the privilege of working with Cass, intimately, for over four years. We’ve fought side-by-side together, completed, and won in the toughest real estate endeavor one can choose to compete in—the second home and resort community market. I know both his and his company’s abilities, character, metal, and they are beyond reproach.
Cass and company began working for McCombs in 2009 when one of our development partners retained their service in support in support of developing the Reserve at Lake Travis—a Hal Jones Development and McCombs Enterprises resort community in Austin. From the onset, Cass and his team’s input, direction, and work were essential in supplementing the staff and knowledge of Hal Jones Development. Cass and company assisted our development partner in (i) repositioning the community to include designing and building a higher density vertical product offering, (ii) designing and building the community amenities, and (iii) designing and building the sales and marketing platform.
In late 2012, following the initial launch of the Reserve at Lake Travis, I joined McCombs Enterprises as the head of Real Estate and Development. In that capacity, I took on the management of the McCombs’ family real estate portfolio—including ranch, timber, commercial real estate, commercial development, residential and resort development, and fixed assets. At the time, a good portion of our active portfolio was our resort communities and it was in that space that I first met Cass. In my initial assessment of our resort development partners, I found many areas lacking—but in Cass and legacy, I found an asset we could leverage and grow. With that, our partnership called again on Cass and Legacy’s talents to help reposition and launch a mothballed resort community in Rockport, the Reserve at St. Charles Bay. The following year we cleaned up the community and built a vertical product offering which we took to market, with great success, in the summer of 2014. A year later, in the summer of 2015, McCombs made the decision to assume control of another large resort community from a development partner—Palmilla Beach Golf and Resort Community. Upon assumption of the project, I rallied Cass and the balance of our resort team and put together a plan to re-activate and truly launch the product. Throughput that process, Cass and Legacy’s experience and talents were essential to McCombs moving quickly and with mass to affect a material change in the community’s performance.
Along the run, we’ve continued to grow not only the number of communities in which Cass works with us, but also the number of product lines we offer in each community. Today, in partnership with Cass and Legacy, we sell and deliver seven different product lines across three communities (i) Villas, Cottages, and Cabins at the Reserve at Lake Travis, (ii) Bay Cottages, Canal Cottages, and Villas at the Reserve at St. Charles Bay, and (iii) townhomes at Palmilla. In addition to the active product lines, across the three communities, we’ve got four additional lines under development. At the end of the day, the results of our efforts can best be measured by the number of happy owners we’ve delivered properties to and see the volume of revenue we’ve brought to our projects. In total, Cass and Legacy have delivered 70 properties and $56,000,000 in revenue for our communities with an additional 28 properties and $28,000,000 underway now.
In closing anyone who’s operated in the home building busines knows how challenging it can be. Labor challenges, material challenges, capital challenges, weather challenges, client challenges, and market challenges—in working intimately with Cass, I’ve seen him meet each of these challenges, head on, and overcome whatever obstacles was in his way. He never quits, never gives up, and doesn’t stop until the mission is accomplished. While, for selfish reasons, I’d love to maintain all of Cass and Legacy’s capacities for my projects, I’d be remiss with that decision. With that, I pass along my highest of recommendations for Cass Brewer and his Legacy companies—if you give them a mission, they will accomplish it.
Expect to Win,
Harry Ben Adams IV
Real Estate and Development
To Whom It May Concern:
I am writing this letter to recommend the services of Legacy MCS. I was the Senior Director of Development for Wyndham Worldwide responsible for both timeshare and hotels projects throughout the USA. During the past year and a half, Wyndham has been working with Legacy MCS on a 100-unit time share project in Marble Falls, Texas. The project included 2 and 3-story buildings with 1-bedroom, 2-bedroom and 3-bedroom units as well as an activities/check-in building and sales center. This project is particularly complicated due to the significant grade on a very small site requiring 35 foot MSE walls to support the building pads. Legacy MCS has handled the challenges of this project in a very capable and professional manner. Their budgeting, paperwork and construction execution are all of high quality and their crews are well supervised, responsive and professional. The Marble Falls project is aggressively managed and, to date, being completed within budget and to schedule. Additionally, they are honest, efficient and have their client’s well-being foremost in their minds.
I am very pleased to offer the highest possible recommendation that you consider Legacy MCS for the needs of your company. I strongly recommend their services and I am looking forward to working with the company again on future projects. If You have any questions, please feel free to contact me.
Vice President of Project Management
Ledgestone team is a creative buyer of off market properties through creative assemblage’s and broker partners. At Ledgestone we scrutinize the market to ensure we find the right project in the right place for the right price at the right time. Our analysis allows us to design and develop the best product types to achieve the highest ROI for our investors, partners, and buyers while maximizing the yield on the land.
OUR STRATEGY THAT MAKES IT HAPPEN
• Extensive local knowledge and experience
• Strategic Land Acquisitions
• Vertically Integrated business model
• Strong strategic partnerships
• Creative and thoughtful design and development
• Disciplined execution