William Cleverly co-founded Monterey Homes in 1985 and served as President from its inception until December 1996 when Monterey Homes closed an unusual reverse merger with a NYSE publicly held company. Thereafter, Monterey Homes changed its name to Meritage Homes Corporation and is listed on the New York Stock Exchange as “MTH” and Mr. Cleverly served as Chairman of the Board and Co-Chief Executive Officer. Meritage Homes designs, builds and sells distinctive single-family homes ranging from entry-level to semi-custom luxury and has built more than 250,000 homes in its 38-year history and is the 6th largest homebuilder in the United States.
Mr. Cleverly retired from Meritage and the Board of Directors and thereafter founded INCA Capital. INCA as a principal of its own funds, has capitalized more than $500 million of off-balance sheet financing transactions (lot banking land acquisition & development) for private and public homebuilder subdivisions. Since inception, INCA Capital has funded more than $2 Billion of private real estate financing transactions throughout the Western US for investors, builders & developers. In addition, the company has developed and sold approximately 5,000 single-family residential lots in the Phoenix metro area and is preparing for development, a master plan community known as Tortolita, in metro Tucson, Arizona (Marana). Tortolita will have 6,500 homes and mixed-use properties including apartments, retail shopping centers, office buildings and a commerce business park. He was on the Arizona Board of Directors of Compass Bancshares, one of the largest U.S. Banks, for nine (9) years) as well as a founding board member of First National Bank of Scottsdale / First Scottsdale Bank. From 1983 to 1985, Mr. Cleverly was an Owner-President of a real estate development firm that developed and built several multi-family apartment communities (for its own account) in the Phoenix area. He earned his undergraduate degree in Business from the University of Arizona in 1980 and is originally from Palo Alto, California.
