CalAtlantic Homes, Arlington, Va. (NYSE:CAA), itself on the verge of being combined with Lennar Corp., Miami (NYSE:LEN), late Wednesday said it had acquired the home building operations of Atlanta, Georgia-based Home South Communities, one of the largest privately-held home builders in the Atlanta metro market.
As a result of the transaction, CalAtlantic now owns and controls an additional 970 homesites across 17 communities, seven of which are actively selling. The balance of the communities are expected to be actively selling in 2018. In connection with the acquisition, CalAtlantic has extended offers of employment to employees of Home South Communities who were engaged in the company’s home building business.
“Home South Communities is a well-respected home builder in the Atlanta marketplace that shares our core values and commitment to quality craftsmanship,” said Casey Hill, Atlanta Division president for CalAtlantic Homes. “Adding the designs and geographic diversity of Home South Communities to CalAtlantic’s already strong Atlanta presence will allow us to continue to grow our business while providing an exceptional home ownership opportunity to buyers across the home building spectrum.”
