D.R. Horton Inc. of Fort Worth has acquired Atlanta-based Wilson Parker Homes, whose homebuilding assets in the transaction include 390 homes and about 490 lots.
Most of those assets — also including 300 homes in sales back order — are within Wilson Parker’s Atlanta operating area. The deal also sees D.R. Horton gain control of about 1,850 lots through option contracts.
For the 12 months ended June 30, 2016, Wilson Parker closed 906 homes ($201 million in revenue) with an average home size of about 2,700 square feet and an average sales price of $222,000. D.R. Horton expects to pay about $90 million in cash for the purchase.
“We welcome Wilson Parker Homes to the D.R. Horton family. Their well-established lot position makes them a great fit as we continue to expand our presence in the greater Atlanta area,” said Donald R. Horton, board chairman, commenting in a news release.
The acquisition is expected to expand the Fort Worth homebuilder’s industry-leading market share in Atlanta to greater than 20 percent in 2016, as well as improve its market share in Augusta, Raleigh and Phoenix, Horton said.
Founded in 1978 in Fort Worth, D.R. Horton has operations in 78 markets in 26 states and closed 38,638 homes in the 12-month period ended June 30, 2016. The company builds and sells homes through its diverse brand portfolio that includes D.R. Horton, Express Homes, Freedom Homes and Emerald Homes with sales prices ranging from $100,000 to over $1,000,000.
The firm also provides mortgage financing and title services for homebuyers through its mortgage and title subsidiaries. More information is available at www.drhorton.com.