Residential homebuilder Landsea Homes Corporation recently closed on the purchase of Vintage Estate Homes, a Florida-based homebuilder with communities in Florida and Texas, for $54.6 million in cash. Vintage Estate Homes currently has new home communities in high-growth markets in Florida including Orlando, Palm Bay and Melbourne, as well as Austin and San Antonio in Texas.
“We are very pleased to finalize this transaction, and gain immediate size and scale within Florida and Texas, two key markets with strong housing fundamentals,” said John Ho, chief executive officer of Landsea Homes. “This acquisition is another step forward in our strategic expansion plans to create sustainable communities in highly desired locations across the United States. The Vintage Estates Homes team is a culture and approach very similar to ours, so the transition to our Landsea Homes brand in these important markets should be very seamless.”
For the 12 months ending December 31, 2020, Vintage Estate Homes generated $157.1 million in revenue delivering 405 homes (including a “build on your own lot” option) with an average sales price of $387,000. The acquisition adds 1,815 owned or controlled lots and increases Landsea Homes’ backlog as of December 31, 2020 by 405 homes.
With the closing of this transaction, Vintage Estate Homes employees are becoming part of the Landsea Homes team. Builder Advisor Group represented Vintage Estate Homes as its broker in this transaction.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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