In 1960 Thomas K. Ireland founded the Mortgage Corporation of America ("MCA"). Over the next 2 decades, Mr. Ireland, as owner and chairman of the board, directed MCA into one of the largest and most respected independent national mortgage banking firms in the United States. Specializing in commercial mortgages nationwide, MCA represented and serviced loans for over 60 major financial institutions. By 1975, MCA’s loan volume exceeded $1 billion per annum and servicing approached $1.5 billion. The company and its affiliates employed over 60 people.
In 1970, Mr. Ireland formed the Ireland Companies to engage in the real estate development of shopping centers, offices, industrial buildings, condominiums, apartments, and single family homes.
In 1975, MCA successfully founded and funded the Hospital Mortgage Group ("HMG"), a $30 million REIT brought public by Shearson, Hammill and Company. A subsidiary of MCA successfully managed this public entity for many years.
On the 20th anniversary of MCA (1980), Mr. Ireland sold the company to its 11 key employees in order to focus on the management and growth of the various real estate projects under development. At that time, the Ireland Companies thru various partnerships had developed more than 50 shopping centers and numerous residential projects. Real estate development continued to be the major focus of the Ireland Companies.
To date, the Ireland Companies and its affiliates have developed more than 100 commercial, industrial, residential and recreational real estate projects in 10 states exceeding $3 billion in total cost. All land acquisitions, leasing, financing, construction, management, and sales of these projects were handled directly by Ireland Companies personnel. Additionally, the Ireland Companies has retained and currently manages many of the commercial and residential properties that have been developed over the last 35 years.
Notable projects include:
The Fashion Mall - Broward County, Ft. Lauderdale, Florida
• $200 million mall containing over 2 million square feet.
Broward County Conference Center and Parking Garage - Ft. Lauderdale, Florida
• $65 million project developed for Broward County (acted as master developer) built 9 months ahead of schedule and $1 million under budget.
Quantum Corporate Park - Boynton Beach, Florida
• $100 million development consisting of a 562 acre office/industrial complex.
The Hyatt Regency Bonaventure Conference Center and Spa - Weston / Ft. Lauderdale, Florida
• $100 million renovation of a 501 room hotel containing a 100,000 square foot convention facility and a 50,000 square foot Elizabeth Arden Red Door Spa. This project was completed in 2007.
Bonaventure Community - Weston / Ft. Lauderdale, Florida
• A 1,200 acre residential development containing 2 championship golf courses and 4,000 condominiums, townhouses, villas, and residential homes. Total cost of this project exceeded $250 million.
Lauderhill Mall and Lakes Mall - Broward County, Ft. Lauderdale, Florida
• These 2 malls were developed simultaneously and contain over 1 million square feet.
Bay Park Towers, Clipper, and Coral Gardens Condominiums - Miami, Florida
• These 3 condominium projects contained over 700 units at a cost of more than $60 million.
The Ireland Companies continues to utilize its extensive professional experience to expand properties within its existing real estate portfolio and by developing, leasing and managing new properties. Ireland Companies has successfully applied its expertise in finance, project development, and professional management to other business interests including golf course ownership and management and investment banking.