D-FW builder sells for $232 million to fast-growing national firm – The Dallas Morning News

2 minutes, 18 seconds Read

A homebuilder that relocated from California to North Texas last year is buying a Dallas-Fort Worth company in a cash deal valued at $232 million.

Landsea Homes Corp. said Tuesday that it is purchasing Antares Homes in a move to expand its Texas operations after shifting its headquarters from Newport Beach to a new office in Dallas’ Uptown district.


Buy/sell, rent/lease residential &
commercials real estate properties.

“We have been searching for the right opportunity to significantly expand our presence in Texas, and today’s announcement achieves exactly that,” Landsea CEO John Ho said in a statement. “Antares Homes shares our philosophy of building quality homes and providing exceptional customer service, making them the perfect addition to the Landsea Homes family.”

Advertisement

Ho said the purchase “provides us with the perfect opportunity to achieve more size and scale in Texas.”

D-FW Real Estate News

Get the latest news from Steve Brown and the business staff.

Read more D-FW real estate news

Red River ranch north of Dallas hits market at $24.9 million

The 2,300-acre Red River ranch for sale north of Dallas includes a luxury home.

Knox Street high-rise project gets underway as Dallas’ most expensive development

A Wednesday afternoon ceremony formally kicked off construction on Dallas’ most expensive real estate project – a 4-acre mixed-use project on the eastern edge of Highland Park.

North Texas housing market ends year with price gain, but fewer sales

Dallas-Fort Worth real estate agents sold 6,416 homes during December – about a 6% decline in purchases from December 2022, according to data from the MetroTex Association of Realtors and the Texas Real Estate Research Center at Texas A&M University.

Besides the cash payment, Landsea also anticipates paying $47.2 million of Antares Homes’ debt. The acquisition is expected to close next month.

Advertisement

Antares Homes is a family-owned business that builds in almost a dozen North Texas communities, including Van Alstyne, Gunter, Forney, Midlothian, Azle, Cleburne, Grandbury and Fort Worth. It builds houses that sell from the low $300,000s to more than $1 million.

“The opportunity to introduce Landsea’s high performance homes concept to our region and become part of one of Texas’ up-and-coming homebuilders makes this the perfect fit for the Antares Homes team,” Antares Homes president Tommy McAden said in a statement.

Landsea Homes, founded in California in 2013, is backed by Chinese real estate development firm Landsea Group. The company builds houses in New York, Boston, New Jersey, Arizona, Florida, Colorado, Texas and throughout California.

Advertisement

Most of Landsea’s Texas operations have so far been concentrated in the Austin area. The Antares purchase will give them construction for the first time in D-FW.

North Texas is one of the country’s top single-family homebuilding markets. In 2023, builders sold a record 52,600 houses. And starts were up 50% in the fourth quarter.

This post was originally published on 3rd party site mentioned on the title of this site

Similar Posts

X
0
    0
    Your Interest
    Your Interest List is emptyReturn to Buying
    ×