MREC Awards Second Home Site to Wounded Veteran


(From left to right) Jeff Ragland, president and executive director of Helping a Hero; Meridith Iler, chairman of Helping a Hero; SGT Andrew Mullee; Jennifer Mullee; and Keith Alexander, director at Mountain Real Estate Capital



MREC Awards Second Home Site to Wounded Veteran

CHARLOTTE, N.C. – Sept. 16, 2014 — Mountain Real Estate Capital (MREC), a leading private equity investor in residential development and homebuilding headquartered in Charlotte, has announced the second veteran who will be receiving a home in one of its master-planned communities. As part of MREC’s corporate culture, the company constantly looks for ways to make a positive difference in the communities in which MREC is involved. MREC has teamed up with Helping a Hero, a nonprofit that provides resources and specially-adapted homes for wounded veterans and their families, along with its community builder partners to help award two homes to injured veterans.”MREC continually looks for ways to give back to the community, an important focus of the company since its founding 20 years ago and a trait that MREC is pleased to share with its many operating partners,” said Peter Fioretti, CEO of MREC. “Our team has a strong desire to show our gratitude for the men and woman who bravely serve our country.”
The first two home sites that MREC donated are located in two of its North Carolina master-planned communities, Kellswater Bridge in Kannapolis and Legacy Lakes in Southern Pines. LStar Management worked with MREC on both deals as its development partner. Ryan Homes built the first home in Kellswater Bridge and McKee Homes will soon begin construction on the second home in Legacy Lakes, both with financing from MREC along with contributions from The Patriot Charities. The Legacy Lakes home will be awarded to Sgt. Jonathan Rivenbark and his wife Yulia at a groundbreaking ceremony in late September.


MREC got involved with the Helping a Hero initiative in late 2013 when it broke ground for the first home located in Kellswater Bridge. In June, a ceremony was held to award the keys for the first home to Sgt. Andrew Mullee, USA (Ret.).


Mullee was injured in an improvised explosive device explosion while on deployment in Afghanistan with the U.S. Army, resulting in the loss of his leg and multiple other injuries. Mullee has already moved into his new home with his wife, Jennifer, and their one-year-old child, and is continuing to undergo rehabilitation.


Rivenbark joined the U.S. Army at the age of 17. During his second deployment to Afghanistan in early 2012, Rivenbark was injured by gunshots while his unit was ambushed on patrol and suffered a fractured upper and lower leg along with multiple other injuries. He is currently in rehabilitation at Womack Army Medical Center and expects to medically retire from the Army in late 2014 to early 2015.


“We intend to expand this program with Helping a Hero’s assistance to our partners’   communities in other regions of the country such as Texas, Colorado, California and Florida to continue to give back to deserving veterans,” says Arthur Nevid, chief investment officer of MREC. “We are very grateful to all of our partners, and most of all to Sgt. Jonathan Rivenbark and Sgt. Andrew Mullee whom we warmly and gratefully welcome into our communities.”


In addition to MREC’s effort to give back through the Helping a Hero initiative, Fioretti along with his brothers Robert and John were instrumental in creating the real estate program at their alma mater, Lehigh University in 2006 along with an endowment to provide scholarships for students in the program. The goal of the program is to develop leaders whose knowledge, drive, vision and high ethical standards will inspire superior performance in the people and the organizations they lead.



About Mountain Real Estate Capital Since 1993, Mountain Real Estate Capital (Mountain) has been a leading private equity source for real estate land developers and builders. Mountain is headquartered in Charlotte, N.C., with offices in Minneapolis, San Diego and New York. Since 2010, Mountain has committed over $850 million in equity to its best-in-class partners to acquire more than 45,000 lots and 9,000 developable acres in over 400 communities in 20 states. Please visit us at our new website (


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