The privately-held DMB Associates is a bell weather company in real estate. It is Arizonaís largest commercial and residential real estate developer. According to the Arizona Republic, the company is restructuring. It replaced its CEO and co-founder, Drew Brown with Eneas Kane, the general counsel and COO. Brown will remain as the chairman and the other two founders, Bennett Dorrance and Mark Sklar, will remain as managing directors.

DMB says it is refocusing on its entrepreneurial roots, which date back to the last downturn, when it purchased several prominent Phoenix properties for low prices. DMB also will consolidate some operations as part of the restructuring. Chairman Brown said that DMB will also look at buying assets from financial institutions.

DMB has purchased lots back from homebuilders in its Verrado development because it wanted to ensure there werenít empty houses sitting in the community. The development is less than 50% completed.

DMB has stopped developing the $1.5 billion, One Scottsdale development, until the market recovers before re-starting the project.

The company, based in Phoenix, has been involved in a number of upscale community projects such as DC Ranch, Silverleaf, Verrado, Power Ranch, Superstition Springs and others. DMB controls more than 100,000 acres of land in Arizona, California, Utah and Hawaii.

DMB should have enough money to survive the downturn and take advantage of some of the opportunities that down market has.

John Laub is the Chairman of the Phoenix CEO-CFO Group.

1. DMB Inc. Reshuffles Its Staff, Strategy. Catherine Reagor. The Arizona Republic. May. 17, 2009.

2. Mesa to Vote on $1 Billion Hotel & Convention Center in March. John Laub. The Phoenix CEO-CFO Group. March 2009.

3. DMB's $1.5 Billion One Scottsdale Project Raises the Bar. John Laub. The Phoenix CEO-CFO Group. January 2007.

4. The Billionaires Among Us: Four Arizona Billionaires on the Forbes List. John Laub. The Phoenix CEO-CFO Group. October 2006.

5. www.dmbinc.com