jeff kozero

Fulton, MD (USA)
Role(s):
Founder/Owner/Principal

empire Homes

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Location: Fulton
Industry: Real Estate
Year Founded: 1999
Number Employees: 10-50 people
Description: Jeffrey B. Kozero is a licensed civil engineer, he owns two companies, The Tech Group (“Tech”), a regional engineering firm founded in 1985 and Empire Homes, LLC (“Empire”) founded in 2000. Tech is a civil and structural engineering firm; it grew both internally and by the acquisition of engineering firms in need of administrative and marketing expertise. Empire is an established home builder and land developer. A benefit of Empire’s acquisition of the some of the engineering firms was access to information about land in the areas where those firms operated. That information was invaluable in the land acquisitions (low prices) and the shorter time it would require moving the land acquisitions through the land development and home building approval process. Empire currently has the following home building and land development projects in various stages of development: 1. Four (4) home building and town homes projects in St. Mary’s County, Maryland near the Patuxent Naval Air Station – 148 homes and town home units. 2. One (1) land development project near Harrisburg, Pennsylvania – 120 single family lots. 3. Two (2) land development projects near Gettysburg, Pennsylvania – 763 single family lots. 4. One (1) individual town home development in Baltimore City near the Johns Hopkins Medical Center – 21 town homes (as rental - 75 rental bedroom units with shared common area). Tech has been involved with development and construction related to military bases. This experience has provided invaluable insight into the Base Realignment and Closure Commission mandate of 2005 (“BRAC”). Most of Empire’s projects are located near military bases that will expand to receive new personnel who are professional and senior level military and executive level government service grades. These personnel will be transferred from other military bases and will need housing immediately. The projects have been funded with a combination of Mr. Kozero’s funds (both capital & loans), investor capital and lender debt; funds advanced to date include: 1Empire Homes/Jeffrey Kozero 1,800,000$ 2Investors 9,365,000 3Lenders 22,582,709 Total 33,747,709$ The funds were used as follows:1Purchase Land $16,534,7852Develop Projects 17,212,294 Total $33,747,079 FUNDING REQUIREMENT MEMORANDUM SINGLE FAMILY HOME CONSTRUCTION AND LAND DEVELOPMENT July 17, 2008 Private & Confidential 2 The projected sales, costs to develop and net profits for each project are included in the following schedule: NetProjectUnits Sales Costs Profit Home Building Oakdale 75 29,250,000$ 17,664,000$ 11,586,000$ St. George's 35 26,600,000 21,202,143 5,397,857 Rolling Farm 15 4,500,000 3,400,000 1,100,000 The Woods 23 7,225,000 5,635,555 1,589,445 148 67,575,000$ 47,901,698$ 19,673,302$ Land Development Shaull's Choice 120 19,080,000$ 10,922,045$ 8,157,955$ McGinley's Choice 484 50,516,000 25,252,280 25,263,720 Highland Overlook 279 34,098,584 17,026,797 17,071,787 883 103,694,584$ 53,201,122$ 50,493,462$ Individual Town Homes Promenade at Hopkins Overlook 21 7,350,000$ 4,661,284$ 2,688,716$ Total 178,619,584$ 105,764,104$ 72,855,480$ The projected sales, costs and net profits are based on the current development plan. Several of the projects have flexible zoning options that allow for rental apartment development with a resulting increase in units per parcel. Mr. Kozero is seeking funding in two stages: 1. Large funding requirement of $32,407,833 that will pay-off all current mortgages, seller land financing, pay-off original investors at deeply discounted value and continue development through record plat stage for land developments, finish lot stage for home building projects and construction for town home project. 2. Smaller immediate funding requirement of $2,643,580 will increase interest escrow and buyout the remaining investor – Osprey Bay. The smaller immediate funding requirement includes items included in the larger funding requirement that will be reimbursed in the amount of $669,000. Osprey originally was to fund all projects and has chosen to fund selective projects. This has been detrimental to the operation of Empire, the developer of all the projects. FUNDING REQUIREMENT MEMORANDUM SINGLE FAMILY HOME CONSTRUCTION AND LAND DEVELOPMENT July 17, 2008 Private & Confidential 3 The following schedules are part of this Memorandum and include a summary of all projects and the funding requirements: 1. Schedule A – Summary of Home Building and Land Development Projects includes the following information for each project: 1) Project Name; 2) Owner; 3) Members; 4) Percentage Ownership; 5) Investment; 6) Lender Name & Outstanding Balance; 7) Date Land Acquired, 8)Number of Acres; 9) Purchase Price; 10) Number of Units; 11) Status of Record Plat, Finished Lots & Construction; , 12) Sale Price Per Unit; and 13) Total Sales, Cost & Net Profit. 2. Schedule B – Funding Requirement includes the following current funding requirement for each project: 1) All Debt – First Deed of Trust, Second Deed of Trust and Seller Financing Mortgages; 2) Accounts Payable; 3) Interest Reserve; 4) Record Plat; 5) Finished Lots; 6) Construction; and 7) Discounted Investor Buyout. The schedule also includes the immediate funding requirements needed to resolve current problems and buyout the remaining investors. Summary Mr. Kozero is seeking two separate funding requirements, the larger funding of $32,407,833 and the smaller immediate funding of $2,643,580. A portion of the smaller funding will be reimbursed from the larger funding at closing in the amount of $669,000. The profits are substantial and the projects need a sophisticated investor who understands the risks of home building and land development, but is cognizant of the potential upside with proper funding and patience to see the projects to full development. There are many development options to maximize profits. Mr. Kozero is willing to discuss any arrangement that is mutually beneficial to a new investors and Empire. Contact: Herbert A. Lewis Oxford Financial Group, LLC 11 Slade Avenue #314 Baltimore, Maryland (URL removed) Cell: [<a href="(URL removed)">send me a message</a>]