Beazer Homes has entered into an agreement to acquire Venture Homes, a leading private homebuilder in Atlanta, for approximately $65 million.
Venture Homes was founded by CEO and President Robert White Sr. in 1984, and has delivered more than 6,000 homes during its 34 year history. Over the last 12 months, Venture Homes generated $69.9 million of homebuilding revenue from 277 closings with an average selling price of $252.2 thousand. The Venture assets to be acquired by Beazer include more than 1,000 lots located in 9 active communities and 18 future communities principally serving first time and first move-up homebuyers. The transaction also includes substantial construction work in process as well as 51 homes in backlog. The unique benefits of the transaction include:
Venture Homes Founder, CEO and President, Robert White Sr. stated, “While we received proposals from a number of other builders, Beazer Homes’ culture and commitment to delivering both a quality experience for buyers and opportunities for employees most closely aligned with our values. We’re excited about the opportunities that this combination creates for both our customers and our employees.” The parties expect the transaction to close promptly upon the satisfaction of customary closing conditions. Reported by Company Press Release (July 10, 2018) For complete information on Beazer Homes, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database.
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Mattamy Homes closed on more than 7,800 residential lots in Tradition to establish the company's flagship development in the South Florida region.
The purchase provides Mattamy with 2,780 acres planned for 7,800 homesites for single-family, multifamily and active-adult homes, as well as 150 acres of commercial land. The build out will take from 10-15 years with prices ranging from the low-200s to 400s. According to a recent Metrostudy market summary report, Tradition is the Top Selling Community in the region for 2017 with more than $270 million in existing infrastructure investments, a thriving town center with neighborhood focused retail including anchors such as Publix and Target, and the area's strongest schools. "This is a significant move into the South Florida market, that demonstrates we're committed to the region due to its vibrant and sustained growth," said Lara Swanson, Mattamy's Southeast Florida Division President. "We bring a depth of knowledge and have an incredible team in place to re-invigorate. Tradition, expand on Tradition's well-known brand and offer new product to an already strong sales market. We are excited to be part of this unique and thriving community and are ready to fulfil the ultimate vision of Tradition." As part of the deal with Mattamy, the City of Port St Lucie took ownership of more than 1,200 acres of land located east of Village Parkway and north Becker Road. The City proposes to create diverse employment opportunities to expand on Tradition's recently opened 177-bed hospital with an outpatient surgery center, medical offices, and research and development centers, in addition to attracting new employers and commercial development opportunities. Mattamy Homes is the largest privately-owned homebuilder in North America. It currently builds in Arizona, Florida, North Carolina and Minnesota. Reported by Company Press Release (July 5, 2018) For complete information on Mattamy Homes, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database. |
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