Based on the provided information, it seems that Green Brick Partners (ticker: GRBK) is a homebuilding and land development company. It acquires and develops land, which it then allocates to various builder subsidiaries. The company has a high growth focus in U.S. metropolitan markets such as Dallas, Atlanta, Denver, and coastal Florida. Green Brick Partners has a controlled partnership model with builders and has scaled its operations profitably.
In recent years, the company has undergone a pivot towards its Trophy Homes division, which offers superior economics compared to its partially-owned builder subsidiaries. The Trophy Homes division has rapidly expanded, representing a significant portion of home closings and lot ownership. The company has achieved higher margins through standardized processes and larger community sizes.
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