Our mission is to professionally and profitably provide land bank financing to public and regional home builders in growth areas of the country. We have developed excellent relationships with home builders and land developers in all of the markets we have operated in. Today our core assets are in Arizona and Texas.
In 2012, we are getting back to our land banking and development financing roots, and we will look to expand our footprint across several markets in the southwest. After weathering the housing market decline over the past few years, we believe this will be the year of progress. There have been very few new residential lots developed over the past few years, which means that the supply of finished lots has also declined. That opens the door for new lot development both within the communities we now have in our portfolio plus, and to add some additional communities in specific growing locations within our existing markets.
We have continued to work with both regional and national home builders, land developers, and banks and we will use those relationships to move forward in 2012. This will be the year to re launch our core business. We are fortunate to be in a position to make that happen.
On the income property side, we have acquired assisted living facilities located within the Phoenix market area. This market will continue to grow over the next several years as the population ages. There is a niche for the four to six bedroom single family residences that are located in upscale neighborhoods Phoenix. We will continue to add to this asset base over time as it generates monthly cash flow for our investors.
