When David Blackburn entered the land development industry in 2006, he had an experienced mentor and partner: his father-in-law, R. Julian Allen, whose company RJ Allen & Associates had been building in the South since 1984. Based in Oxford, The Blackburn Group has built residential, condominium, and student housing communities, primarily located in Mississippi and Texas. Over the past ten years, the company has grown from three employees to more than fifty and added fitness center management and land mitigation to their interests.
Blackburn was introduced to Financial Federal after completing their first apartment complex in 2011. “We were actually referred to them for non-recourse financing by our banker at the time, and Financial Federal was the servicer of that loan,” said Blackburn. “After that, we began using them from the beginning.”
The company’s growth has not been without terrible setbacks, however. In 2012, Julian Allen was killed in a plane crash, and along with grieving his friend and father-in-law, David Blackburn faced an uncertain future. “I didn’t have the history or resources that Julian did, and Financial Federal really took a leap of faith with me,” said Blackburn.
The leap was well worth it. Financial Federal recently financed the construction of Blackburn’s newest community, Molly Barr Ridge Apartments in Oxford, Mississippi, as well as Russell Street Flats, currently under construction in Starkville. David Blackburn appreciates having a banking relationship that goes beyond the figures. “They stood by me in a tough time and I’ll always be grateful to them for that.”
For more information on The Blackburn Group, contact Rick Wood.