Century Communities Announces Acquisition of Greater Nashville Builder: Landmark Homes of Tennessee, Inc.
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Insights
The acquisition of Landmark Homes by Century Communities represents a strategic move to consolidate market presence in the Greater Nashville area. Century Communities' expansion through this acquisition is a calculated effort to increase their land holdings and capitalize on the burgeoning housing market in this region. Nashville has been experiencing a surge in population growth, which has a direct impact on housing demands. The addition of over 800 lots to Century Communities' portfolio not only enhances their capacity to meet this demand but also strengthens their market position against competitors.
From a market research perspective, the focus on first-time and move-up buyers is a strategic choice, considering these segments often drive home sales in growing metropolitan areas. The pricing range of the newly acquired inventory suggests an attempt to cater to a broad market, potentially increasing Century Communities' appeal to a diverse customer base. The long-term implications of this acquisition may include increased revenue streams and a stronger brand presence in a competitive market.
Examining the financial angle, the acquisition of Landmark Homes by Century Communities is likely to have significant implications for both companies' financial performance. For Century Communities, the immediate benefit comes in the form of an expanded inventory of lots and homes, which can translate into a more robust pipeline for future sales and revenue. This acquisition could potentially lead to economies of scale, reducing costs per unit as operations are streamlined under the larger corporate umbrella.
Investors should monitor the integration process closely, as the success of mergers and acquisitions often hinges on the seamless assimilation of assets and the effective management of the expanded operations. Additionally, the strategic nature of this acquisition could position Century Communities favorably in terms of market share growth, which is a key driver of shareholder value over time.
From a real estate industry perspective, the acquisition reflects a trend of consolidation within the homebuilding sector. As Century Communities integrates Landmark Homes' operations, the focus will likely be on maintaining the quality and reputation that Landmark has established over three decades. The strategic value of this acquisition lies in the synergy between Century Communities' online homebuying platform and Landmark Homes' established local presence. This combination could offer a competitive edge in terms of marketing and customer reach.
Moreover, the continued involvement of Landmark Homes' leadership in sourcing and developing lots post-acquisition indicates a commitment to retaining the expertise that has contributed to Landmark's success. This retention of talent can be crucial for ensuring continuity and capitalizing on local market knowledge, which is often a key factor in the success of real estate ventures.
The acquisition increases
This strategic acquisition further cements Century Communities' position as a leading builder in
"Landmark Homes has worked hard to build a respected brand in the
"We are excited to build on our strong track record of successfully acquiring other homebuilders with another strategic acquisition as we add existing and future lots to our land portfolio," said Rob Francescon, Co-CEO and President of Century Communities. "This transaction furthers our goal of increasing community count and market share throughout and beyond our geographic footprint through the opportunistic acquisition of other homebuilders to augment the organic expansion of our land portfolio."
"I'm proud of the outstanding work by the Landmark Homes team in building and delivering high-quality new homes for over 30 years," said Gary Wisniewski, President and CEO of Landmark Homes. "With their shared passion for great homebuilding, commitment to excellence, and industry-leading homebuying experience, Century Communities is the perfect organization to expand on our mission of making homeownership more achievable to buyers in the
Renowned at land acquisition and development, Mr. Wisniewski—along with Landmark Homes' Chief Operating Officer Nick Wisniewski—will continue to source and develop lots for Century Communities following the closing of the acquisition.
Builder Advisor Group, LLC served as exclusive financial advisor for Landmark Homes.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders, an industry leader in online home sales, and the highest-ranked homebuilder on Newsweek's list of America's Most Trustworthy Companies 2023. Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 18 states and over 45 markets across the
About Landmark Homes
Landmark Homes was founded by Gary Wisniewski and has been focused on homebuilding in greater
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company's Annual Report on Form 10-K for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
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SOURCE Century Communities, Inc.
FAQ
What company acquired Landmark Homes of Tennessee, Inc.?
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