Arlington-based D.R. Horton Inc. said Wednesday it plans to acquire the homebuilding operations of Truland Homes, a private builder in the Alabama Gulf Coast...
“Their quality building operations and strong presence across the Gulf Coast make Truland a great addition to D.R. Horton’s already strong local market operations,” D.R. Horton chairman Donald R. Horton said in a statement.Advertisement
Through the deal, D.R. Horton said, the company will acquire 263 lots, 155 homes in inventory and 55 sold homes in the backlog, some of which are under construction. It also will take control of hundreds more lots through option contracts with Truland affiliates and third parties. The Gulf Coast builder’s homes average about 2,340 square feet in size, and their sale prices average $477,000, according to D.R. Horton.
Truland was founded in 2011 by Alabama entrepreneur Nathan Cox. Cox is founder and CEO of 68 Ventures, one of the largest developers in coastal Alabama and the holding company for about 15 businesses focused on development construction and real estate services,Truland, which is D.R. Horton’s largest supplier of home sites in the Alabama Gulf Coast and Florida Panhandle, will continue as a lot developer for D.R. Horton.D.R.
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