D.R. Horton expands its presence in the Southeast and Arizona markets as it plans to acquire Wilson Parker Homes. Wilson Parker operates in Atlanta and Augusta, Ga.; Raleigh, N.C.; Columbia, S.C., and Phoenix, Ariz.
"Their well-established lot position makes them a great fit as we continue to expand our presence in the greater Atlanta area," said Donald R. Horton, chairman of the Fort Worth, Texas-based homebuilding giant. "This acquisition will further expand D.R. Horton’s industry-leading market share in Atlanta to greater than 20 percent in 2016, in addition to improving our market share in Augusta, Raleigh and Phoenix.”
D.R. Horton expects to pay approximately $90 million in cash for the purchase. The homebuilding assets acquired include approximately 490 lots, 390 homes in inventory and 300 homes in sales order backlog, the majority of which relate to Wilson Parker’s Atlanta operations.
D.R. Horton also acquired control of approximately 1,850 lots through option contracts. For the twelve months ended June 30, 2016, Wilson Parker closed 906 homes ($201 million in revenue) with an average home size of approximately 2,700 square feet and an average sales price of $222,000.