Ryland Buys Texas HomebuilderOriginally published May 10, 2013 at 1:21 p.m., updated May 10, 2013 at 2:09 p.m.
Ryland Group Inc. is acquiring luxury homebuilder LionsGate Homes in Carrollton, Texas, the company announced Friday.
The acquisition provides the Westlake Village homebuilder and mortgage company roughly 885 lots and homes in 15 communities in the Dallas-Fort Worth region as well as the operations of the Texas company.
Ryland had nearly fully exited its operations Dallas in 2011 in an effort to consolidate its expenditures in markets where it saw better returns. But it recently has been looking for an opportunity to get back into the region, according to Drew Mackintosh, vice president of investor relations and corporate communication.
“It’s a really good housing market,” Mackintosh said. “There’s lots of land and good job growth. We’re always looking for more opportunities that allow us to grow our market share.”
It’s the third acquisition Ryland has made in 11 months. In July, it purchased assets in Charlotte and Raleigh, N.C., including 807 lots, from Timberstone Homes. In December, it bought TrendHomes, with seven communities in Phoenix from private equity firm Najafi Cos. LLC.
Ryland operates in 14 states across the country and has built more than 300,000 homes and financed more than 245,000 mortgages.
Ryland shares closed up 2.6 percent at $48.99 on the NYSE.