M/I Homes, Inc. (NYSE: MHO) said Friday it has successfully closed the acquisition of the residential home building assets and operations of Pinnacle Homes, a builder in the greater Detroit, Michigan market.
Robert H. Schottenstein, CEO and president of M/I Homes, commented, “We are excited to close this transaction and expand our operations into the Detroit market. Detroit represents our 16th market and further enhances our growth objectives and strengthens our geographic footprint. We are pleased to welcome the team of Pinnacle Homes associates to our company.”
M/I Homes, Inc. has sold more than 105,000 homes primarily under the trade names M/I Homes and Showcase Collection (exclusively by M/I Homes) and also currently operates under the name Hans Hagen Homes in its Minneapolis/St. Paul, Minnesota market. The company has home-building operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Tampa, Sarasota and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina; and the Virginia and Maryland suburbs of Washington, D.C.
