Gehan Homes

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Gehan Homes
Privately held homebuilder
IndustryHome construction
Founded1991; 28 years ago (1991)
FoundersTim Gehan
HeadquartersAddison, TX, U.S.
Key people
John Winniford, CEO
Production output
Increase 1,753 (2017)[1]
RevenueIncrease US$542 billion (2016)[2]
Number of employees
Increase >170 (2017)
ParentSumitomo Forestry Co., Ltd. of Sumitomo Group
Websitegehanhomes.com

Gehan Homes, Ltd. is a regional privately-held homebuilder in the United States with major regional operations throughout Texas in Dallas, Houston, Austin, San Antonio and Scottsdale, Arizona and Tempe, Arizona. Originally founded in 1991 in Addison, Texas[3] Gehan has experienced rapid growth in the timeframe 2010 to 2019. Gehan competes in these markets with large United States builders Lennar, Taylor Morrison, DR Horton, KB Homes and Maracay Homes, among others. Gehan Homes (GHL) "is the brainchild of brothers Tim, Peter and Glenn Gehan. The trio formed GHL after the Savings and Loan crisis of the mid-80s decimated Texas' housing market" [4]. The company is owned by Japanese parent company Sumitomo Forestry Co., Ltd. of Sumitomo Group.

Acquisition[edit]

Until 2013, the homebuilder was led by members of the Gehan family members Tim, Peter and Glenn. After this time, Japanese investor Sumitomo Forestry Co. purchased a 51% stake in the company to provide support as the company has grown to build homes in a larger number of communities throughout the American southwest. Sumitomo Forestry Co. is a subsidiary entity of the "keiretsu" (conglomerate) Sumitomo Group, a 400-year old conglomerate based in Japan.

The company later completed a full acquisition of the remaining share of Gehan in April 2016. According to the company "Gehan Homes will have added financial strength that will allow the company to be more aggressive in the area of land acquisitions. The company will be better positioned for organic growth in its current markets as well as evaluate the potential for expansion into new submarkets."[5]. The company aims to deliver 5,000 home builds per year in the future.

Design[edit]

Products in Gehan's lineup, similarly to other nationwide builders are typically classed into 'collections' of homes such as Villagio series, Hacienda series, etc. Most of Gehan's lineup consist of one or two story homes in a mid-level price range. The floorplans share similar elements or characteristics to tie them in a common way to a neighborhood or specific land parcel such as a master-planned community. These series are denoted by common design elements and unique characteristics specific to the locale of the building. Such variations of home elevations are typically specific to geography and the individual community in which they are built. Many Gehan communities are part of larger subdivisions of land which may be bordered by homes of similar size and shape built by other builders.

Green building[edit]

All of Gehan's homes planned for construction adhere to Energy Star guidelines, of which the year of certification (example: Energy Star 3.0), and thereby the performance standards vary by local building requirements. In 2011, Gehan homes won the Energy Star Leadership in housing award for dedication to building energy efficient homes.[6].

Timeline[edit]

  • In 1994, Gehan was founded in Addison, Texas.[7]
  • In 2011, Gehan won the top builder award in Texas for production builders [8]
  • In 2013, Gehan entered the Phoenix metro market in Arizona[9]
  • In 2016, Gehan Homes was acquired by Sumitomo Forestry Co., Ltd of Sumitomo Group in Tokyo, Japan. The CEO was changed from the family member Timothy Gehan to John Winniford.[10]
  • In 2016, annual revenues for Gehan exceeded more than $542 million, beating the previous year and representing the largest growth in company earnings year-to-year.[11]
  • In 2017, Gehan Homes launches the Graypoint brand, a brand "to address the incoming millennial market and what they are looking for in a home"[12][13]
  • In 2019, Gehan Homes is building in many local cities around Phoenix including Sun City, Surprise, Mesa and Gilbert and Waddell.

Awards[edit]

  • Gehan Homes won the Texas Homebuilders STAR award and "Builder of the year"[14]

References[edit]