Bordeaux Properties Sells Remaining Share of Calgary Builder Baywest Homes
As Bordeaux Properties passes over the reigns, it does so confidently knowing that Section23 will continue to build on the legacy of Baywest Homes and its predecessors.
Section23 Developments is pleased to announce it has reached an agreement with Bordeaux Properties to acquire its ownership of Baywest Homes. Under a previous agreement forged in 2015, Bordeaux Properties and Section23 were 50/50 partners in the established, award-winning Calgary home builder.
Since 2015, Section23 and Bordeaux Properties have worked collaboratively to build on Baywest Homes’ successes and storied history. As Bordeaux Properties passes over the reigns, it does so confidently knowing that Section23 will continue to build on the legacy of Baywest Homes and its predecessors.
Originally a small, family-owned builder, Baywest Homes has evolved and enjoyed substantial growth throughout the years. Since 1985, Baywest Homes has been a company united in a shared vision to deliver an outstanding experience for its customers and partners. More than three decades later, Baywest Homes is still known for its commitment to innovative, customer-focused design, solid construction practices, superior product knowledge and outstanding relationships with its homeowners, partners, trades and colleagues.
Chris Plosz, Section23’s President, says the acquisition marks an important milestone in Section23’s growth and evolution.
“We are very excited about the future of Baywest Homes,” he says. “Baywest has long been one of the city’s most respected builders known for its fresh approach to homebuilding, outstanding design, integrity and craftsmanship – traits that align perfectly with Section23’s corporate values and vision.”
“Bordeaux Properties has done an exceptional job growing the company,” he adds. “We very much look forward to building on that legacy of success as we start a new chapter in Baywest’s history.” Chris Plosz, Section23 President.
“With the new ownership structure, Baywest Homes now becomes part of a diverse and multi-faceted real estate organization, complementing Section23’s land holdings and presenting a tremendous opportunity to pursue Section23’s mission of creating dynamic, inspired built environments that foster a legacy of social connections for all generations,” says Robert Ollerenshaw, Section23’s Executive Chairman
Birol Fisekci, President and CEO of Bordeaux Properties, says his team looks forward to continuing their relationship with Section23.
“We have thoroughly enjoyed our partnership, and anticipate the many great things Baywest Homes will accomplish under Section23’s guidance.” he says. “We wish them tremendous success, and know this acquisition comes at a time when Section23 is poised for exciting change.”
Chris Plosz agrees. “With the recent approval of Section23’s new community of Rangeview in southeast Calgary, and now full ownership of a well-established home builder with an outstanding team of experienced professionals, Section23 is positioned for future growth as a fully integrated land and housing development company.”
“While it is business as usual as far as Baywest’s day-to-day operations are concerned, we will be working with the Baywest Team to plan a cohesive Section23 and Baywest strategic business plan,” he adds. “As we identify and explore new opportunities, we will be judicious in our approach, continuing to build on the excellent reputation Baywest Homes has earned over more than 30 years.”
In the meantime, Baywest Homes will continue to focus on estate and move-up homes in master-planned communities, including enhanced customer choice through standard and customized plans. The company currently builds in a number of award-winning communities in Calgary, including Cranston, Harmony, Mahogany, Silverado, Walden and Wentworth as well as Rancher’s Rise in Okotoks.