(801) 407-6813
(801) 407-6813
The ICO Development team is unique in its ability to visualize the value creation potential of challenged locations, sites, or jurisdictions. Because we have an in-house staff of engineers, architects, geotechnical, and site experts who support our business development experts with over $2B of combined real estate investment experience, ICO is able to bring to market the most distinctive and highest performing properties in the markets we serve.
Like every ICO business, Development is grounded in fundamental analysis of market research and financial assessments. Unlike most real estate developers, ICO applies sophisticated tools from adjacent industries and experience of its founders to add financial rigor, conduct market research at a granular level, and model outcomes using proprietary software tools to create an unmatched development process. Fundamental value investment tools underlie the decision to proceed on any development. Expert interviews, using ICO’s broad industry contacts, are performed on every development opportunity, and results are confirmed in primary user interviews, conducted at the sub-segment tenant level. Proprietary supply and demand sub-market forecast models are also used to support each project decision.
ICO Development is known for excellence in the style, craftsmanship, and utility of its projects. Developments are much more than construction projects: Our zealousness for research, and ability to transform vision into distinctive value, enable ICO to create communities and lifestyles for its residents, not just buildings.
ICO focuses on Utah. ICO develops mixed-use communities, multi family communities, and commercial lifestyle projects. Within commercial, ICO develops industrial, mid-sized office, retail, and mixed-use projects. ICO’s professionals conduct feasibility and valuation studies, perform extensive market research, identify locations, plan sites, negotiate purchases, manage entitlement processes, and oversee construction, leasing, and property management at project maturity. ICO performs these services for its own account, with joint venture partners, or for third parties
Acquisition And Development
Contacts
MULTI-FAMILY
Taylor Maughan
801-407-6818
INDUSTRIAL | MID-SIZED
OFFICE | RETAIL
Stephen Hopkins
385-249-6147
ICO Companies Office:
3401 N. Center St. Suite 300 Lehi, UT 84043
801-407-6813
The ICO Companies, a sister company to Ivory Homes, Utah’s Largest Homebuilder for 31 years.
ICO Companies
Ernest D. Willmore has primary responsibility to implement the growth and development objectives of ICO Development, focused on multi-family. Mr. Willmore has over 25-years of experience in income property lending, development, asset management, acquisitions, and administration. He has actively participated in all aspects of real estate investments including office, retail, industrial and apartment product types. Prior to work with ICO, Ernie lead the development of a $36 million, 204-unit residential development in Salt Lake City, Utah. He was previously the Regional Director in Dallas for Northwestern Mutual Life, responsible for a portfolio of investments valued at over $2 billion and new investment production and administration of all activities of the Dallas office that covered a multi-state territory that included Texas, Kansas City metro area, Colorado, Utah, and New Mexico. Prior to work at Northwestern, Ernie worked in investments with Equitec Financial Group in Oakland, California.
Ernie earned a B.S. in Business from Brigham Young University in 1984 and a Master’s Degree in Finance from Golden Gate University in San Francisco in 1993. He received his CCIM designation in 2003. Mr. Willmore has been a guest speaker and panel member on numerous occasions for BAMA, CCIM, NAIOP, and CLE.
Justin’s primary responsibility is to grow ICO Development’s portfolio in the commercial real estate product types (retail, office, industrial) and in Student Housing. Justin’s real estate experience includes acquisitions, development, property management, leasing, and underwriting.
Prior to joining ICO, Justin worked with Phillips Edison & Company, the largest private owner of grocery anchored shopping centers in the country, underwriting, performing due diligence, and executing leasing on more than $1.3 billion in new shopping center acquisitions in 24 states.
Justin has a Master’s degree in Real Estate Development from the University of Utah, a Master’s degree in Finance from the University of Utah, and a Bachelor’s degree in Fine Arts from Brigham Young University. He currently teaches a real estate development class at the University of Utah.
Email
801-618-7893