TerraWest Communities makes real estate investments in the metropolitan Phoenix marketplace through asset purchases, joint ventures, land banking and note purchases.
TerraWest Communities invests in master planned communities, finished lots, partially completed lots, entitled land, raw land, and other real estate assets, with target hold periods of 2-8 years. The target investments size is from $2 million to $100 million.
Led by Mike Jesberger, TerraWest Communities is funded by JEN Partners, LLC, a New York based private equity real estate fund. Thanks to the partnership with JEN, TerraWest Communities prides itself on having capital ready to close on transactions quickly.
The target investment size is between $2 and $100 million. TerraWest Communities invests through asset purchases, joint ventures, land banking and other note purchases.
Michael Jesberger, principal of TerraWest Communities is a 30-year veteran in developing award winning master planned communities. Prior to launching TerraWest Communities, Mike was the General Manager and Executive Vice President for Element Homes, a Phoenix based home builder and real estate developer that built/sold over 1,600 homes. Under Mike's direction, Element Homes' related entities also acquired and developed two successful master planned communities, 1,600 homesites in Sonoran Mountain Ranch in Peoria and 2,200 homesites in Glennwilde Groves in Maricopa.
Prior to starting Element Homes with LeRoy Hanneman and Scott Peterson, Mike was with Del Webb Corporation and later Pulte Homes for 11 years. He has considerable experience in the land development arena as well as overall business management, garnered by serving in leadership capacities in Del Webb's projects in Texas, Nevada and Arizona.
Mike was the Arizona Vice President of Land Acquisitions for Pulte and also served as Del Webb's general manager at Sun City Grand, overseeing the day-to-day operations of this 4,000-acre master planned community.
Mike began his career in Beverly Hills, California serving as a project engineer with the J.A. Jones Construction Co. He has served on a number of non-profit boards, most recently completing a term on the Maricopa Water District Board of Directors.
He is a native of Arizona and holds a Bachelor of Science degree in Construction from Arizona State University.
Tom Cheney has over 35 years of engineering, land development and construction experience with over 20 years of experience working with and for developers and homebuilders in Arizona. Tom holds a Civil Engineering degree from the South Dakota School of Mines & Technology and a Class “A” General Contractor’s license in Arizona. In addition to being a partner in TerraWest, Tom is the Principal and Qualifying Party for Insight Development Services, a Construction Management firm specializing in assisting Homebuilders and Developers efficiently develop their property.
Prior to joining TerraWest Communities, Tom was the Vice President of Land Development for Element Homes, a Phoenix based homebuilder and developer where he worked for over four years. While at Element Homes, Tom managed the land development of two Master Planned Communities: the 1,600 unit Sonoran Mountain Ranch, located in Peoria, AZ and the 2,300 unit Glenwilde Groves community located in Maricopa, AZ. In addition to developing these master planned communities, Tom managed the land development operations for the Element Homes production homebuilding operations, developing over 1,400 lots. Prior to Element Homes, Tom held management positions in the land development departments with Del Webb Corporation and Pulte Homes.
Shannon Francoeur has over 20 years of experience in land acquisition and development for both home builders and private developers. She started her career as a structural engineer in Chicago after obtaining a BS in Civil Engineering from Texas Tech University. Shannon transitioned into home building in 2001 working for a private builder located in the suburbs of Chicago. A few years later, she moved to Arizona where she worked for Pulte Homes and then later for a private developer, DMB. At DMB, Shannon was involved in the revenue management and development of masterplans such as Marley Park, Verrado, DC Ranch and Eastmark.
In 2015, Shannon moved back into home building to take the role as Vice President of Land Acquisition and Development for Taylor Morrison in the Phoenix Division. While in this role, Shannon oversaw the acquisition and development of more than 14,000 lots equating to a budget of roughly $1.5B. Shannon’s efforts helped Taylor Morrison maintain a spot in the top three builders for permits in the Phoenix MSA and the rank of largest division for the company.
Diann Curley, CPA, has over 25 years of experience working for developers and homebuilders in Arizona. Prior to joining TerraWest Communities over 12 years ago, Diann was the Vice President/Controller of Element Homes, a Phoenix based homebuilder, where she worked for over six years. Prior to joining Element Homes, Diann was the Controller for the Arizona Active Adult Divisions of Pulte Homes, which included Sun City Grand, Solera by Del Webb, and the beginning stages of Sun City Festival. The Arizona Active Adult Divisions were responsible for over 1,200 annual closings during this time period. Diann served as Treasurer and Finance Committee Chairperson for both the Sun City Grand and Solera HOA boards as part of her job responsibilities.
Diann began her career in public accounting for a local Phoenix firm and is originally from Las Vegas, Nevada. She holds her Bachelor of Science in Accountancy from The University of Arizona.
Mike Cronin has over thirty five years of planning and development experience in the Metropolitan Phoenix area. With a Masters Degree in Urban Planning from the University of Arizona, Mike has worked for both the public and private sectors, including positions at the City of Phoenix, the law firm of Earl, Curley and Lagarde, and Element Homes.
Prior to joining TerraWest Communities, Mike was Director of Entitlements at El Dorado Holdings and the Project Manager for Douglas Ranch and Trillium, two Master Planned Communities in the Town of Buckeye totaling 37,000 acres. Mike has extensive experience in all phases of property entitlement, including rezoning, platting, Section 404 permitting and development agreements. Mike was also significantly involved in the I-11 Coalition, a non-profit group formed to promote the development of Interstate-11.
If you are interested in finding out more about TerraWest Communities, please feel free to contact us:
2222 West Pinnacle Peak Road
Phoenix, Arizona 85027
Office: (602) 374-2777