Extreme Biodiesel Inc. ($XTRM) is definitively changing the game and has recently confirmed in an interview with PSN that it wants to completely shift to the residential real estate. All aspects from management and organisation till new operations have been carefully considered and implemented. This makes the era in which the company focused on the biodiesel industry a thing of the past. With a recent acquisition of North Star Homes the first important step has been made. The company is now further exploring where other acquisition opportunities lie in the real estate sector. Ultimately, this transition should ensure that the company offers cost-effective, high quality products to customers while increasing shareholder value.
No mass production, but high-quality residentials
The reason to start in the real estate sector is an intrinsic motivation and has led to an experienced management team that shares this passion, being ready to make a name for itself in the region and possibly beyond. Prior to the acquisition, North Star Homes had been active in the real estate sector for over 20 years. This has preserved a lot of experience, structure and knowledge within the team. The professionalism of the management and eye for detail are two important qualities with which they want to surpass the competition. The vision is not to realize mass production, but to respond to specific housing needs of customers who want to realize their dream residence. This is handled and executed with the utmost care by the building professionals.
Boise is a high-potential real estate region when your business is healthy
With North Star Homes they have gained the knowledge that financial expertise is indispensable if the company wants to become a market leader. That’s why, after the acquisition with North Star Homes, a lot of attention was paid to juridical, logistical and financial matters. In addition, the firm is aware of the fact that the Boise region is seen as one of the best real estate markets in the United States. This ensures the quality growth and the demand for real estate does not seem to have disappeared, despite all the perils of recent period since the outbreak of COVID-19. It can therefore be said that the company is currently very healthy. There are just a few ongoing debts and – thanks to a large and influential network – the company may be able to rely on several excellent sources of financing. If a financial injection is called upon, it’s exclusively for the purpose of improving the asset profile, keeping excellent personnel on board and/or financing responsible growth.
Sufficient projects are in progress or in the pipeline
A summary is written below about the current and future projects of North Star Homes based on the recent information that they wanted to share with us. Despite the uncertain period in 2020, North Star Homes can share the following details with its head held high:
1. Hickories End Subdivision
Only 2 homes remain and are priced in the low $500,000. This plat is in the desirable West Boise area of well-established homes and only 15 minutes to downtown Boise. The Shiloh – $534,900 + The Hawthorne – $529,900.
2. Jackie Lane Subdivision in Boise
North Star Homes has started constructing 6 new homes close-in to Boise ranging from $350,000 to $370,000 with completion expected during the fall. Homes are 1600 to 2000 sq ft
3. San Gorgonio Sub in Meridian
North Star Homes has 3 homes under construction in the Heart of Meridian priced from $429,900. Homes will be completed during the fall. Sizes range from 2000 to 2300 sq ft
4. Cazador Subdivsion in Kuna
North Star Homes has joined the builder team in Cazador, located in the fast growing Kuna community. North Star Homes will begin to built 8 new homes starting at $375,000 this fall and expect completion this winter. The plat offers parks and a community pool, plus it is close to a new shopping district and schools.
For the year 2021, quite a bit is already in the pipeline:
North Star Homes will start on a new 11 lot infill plat in West Boise with homes staring in the low $400,000’s and expect construction of the homes to begin in the spring of 2021. Furthermore it will have a huge announcement in the fall on a 214 lot plat in Caldwell with homes from the low $300,000’s.
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