Douglas L. Schwartz Joins WCI Communities

BONITA SPRINGS, Fla.--(BUSINESS WIRE)--WCI Communities announced today that Douglas L. Schwartz has joined the company as Senior Vice President, Asset Management. In his new role, Mr. Schwartz will be responsible for the disposition of non-core assets, facilitating WCI's builder lot sales program and maximizing core asset values through strategic planning and entitlement management. Mr. Schwartz has been part of the Florida real estate industry for nearly 20 years – most notably with Taylor Woodrow as Executive Vice President responsible for the company's homebuilding, community development, and tower businesses in Florida. He has also served as part of the senior executive team that effected the merger of Taylor Woodrow with Morrison Homes in 2007 and as a division president for Centex Homes. Mr. Schwartz returns to WCI where he started his real estate career right out of graduate school and served in various management roles for seven years.

"I look forward to returning to WCI and being part of the leadership team focused on executing our business plan in 2010 and beyond," stated Schwartz.

"We are pleased to welcome Doug to our team," said David L. Fry, President and Chief Executive Officer of WCI. "Or perhaps I should say, welcome him back. He brings a wealth of experience, knowledge, and enthusiasm to attaining our current and future goals."

WCI Communities creates amenity-rich, master-planned lifestyle communities, catering to primary, retirement and second-home buyers. The company offers traditional single and multi-family home choices with prices from the mid-$100,000s to just under $1 million. In addition to homebuilding and development, WCI generates revenues from its Prudential Florida Realty business, the second largest residential realty company in Florida; its Wells Fargo-affiliated mortgage services; insurance and title services, and its recreational amenities, as well as through land sales and joint ventures.

Jan 11, 2010