Landsea Homes Corporation (Landsea Homes), a publicly traded residential homebuilder, has closed the purchase of Vintage Estate Homes, a Florida-based homebuilder with communities in Florida and Texas, for $54.6 million in cash.
“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 renowned for providing superior homes at best-in-class value with exceptional customer service. This 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.”
Vintage Estate Homes has earned a reputation for building great homes at great value, outstanding design and for building lasting relationships with its customers. It 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.
In eight years, Landsea Homes has grown into one of the premier national homebuilders, with a strong and successful presence in each of its key markets, including Arizona, Northern and Southern California, and now, Texas and Florida – all of which are strategically positioned to continue to grow into the foreseeable future.
Ho concluded: “Our mission is to create a best-in-class homebuilding company that is a great place to work and delivers an unprecedented customer experience, including expanded affordability and technologically-enhanced housing options to our homebuyers. Vintage is a perfect fit for this mission and we are thrilled to join forces.”