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Real Estate Real Deals: D.R. Horton acquires Atlanta homebuilder

Real Deals: D.R. Horton acquires Atlanta homebuilder

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Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.

D.R. Horton acquires Atlanta homebuilder

D.R. Horton Inc. of Fort Worth has acquired Atlanta-based Wilson Parker Homes, whose homebuilding assets in the transaction include 390 houses and about 490 lots.

Most of those assets, also including 300 houses in sales back order, are in Wilson Parker’s Atlanta operating area. The deal also gives D.R. Horton control of about 1,850 lots through option contracts.

For the 12 months that ended June 30, Wilson Parker closed 906 houses ($201 million in revenue) with an average 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 D.R. Horton’s industry-leading market share in Atlanta to more than 20 percent in 2016, as well as improve its market share in Augusta, Georgia; Raleigh, North Carolina; and Phoenix, Arizona, 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 that ended June 30. 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.

STOLTZ IMAGE CONSULTING

CHANGES HANDS, MOVES

Fort Worth businesswoman Elaine Stoltz has announced plans to sell Stoltz Image Consulting to Kelly Zinke, her colleague of six years.

The transaction is expected to close on Oct. 1.

The business was recently rebranded as StoltzZinke Image Consulting to reflect Zinke’s principle role. It will move from its current location at 2800 S. Hulen St. to a new studio at 4961 S. Hulen St. in the Heritage Square Shopping Center.

“Kelly will sustain the values and philosophies that created our respected brand: a common passion for positive first impressions and a dedication to assuring clients know which colors and styles enhance their own natural beauty and reflect their singular, unique personalities,” Stoltz said in a news release.

After building her business over three decades, Stoltz said she decided to sell the operation to ensure its ongoing legacy while reducing her own day-to-day involvement. Stoltz will continue to provide image consulting to StoltzZinke’s new studio, by appointment.

SALES

A buyer whose name was not disclosed has purchased a 24,000-square-foot building at 3619 Alice St. in Fort Worth from Snelson Enterprises Inc. Nathan Vasseur of Vasseur Commercial Real Estate Inc. represented the buyer. Bruce Baucum of Baucum Properties LLC represented the seller.

LEASES

Progress Rail Services Corp. has leased 14,400 square feet at Heritage Commons II, 13601 North Freeway in Fort Worth. Bob Scully, Blake Lloyd and Brice Wells of CBRE-Fort Worth represented the landlord.

Girls Inc. of Tarrant County has leased 5,141 square feet at 1226 E. Weatherford St. in Fort Worth. Grant Huff of Transwestern-Fort Worth represented the landlord.

Amma Groceries has leased 3,140 square feet at Park Glen Summit, 5601 Basswood Blvd. in Fort Worth. Jordan Cluff of Woodcrest Capital LLC represented the landlord.

Destination Life Therapy & Wellness has leased 1,623 square feet at 1759 Broad Park Circle South in Mansfield. Bobby Montgomery and Jon McDaniel of NAI Robert Lynn-retail division represented the landlord.

Laura’s Dance Dynamics has leased 4,299 square feet at Parkwood Village Center, 111 E. Harwood Road in Hurst. Jake Burns and Eric Deuillet of Structure Commercial represented the tenant and landlord.

Peek & Play has leased 3,360 square feet at The Shops at Grapevine Mills, 2805 E. Grapevine Mills Circle in Grapevine. Barbara Ratliff of Century 21 Commercial-Judge Fite represented the tenant. Troy Morgan and Eric Deuillet of Structure Commercial represented the landlord.

The Wild Nest has leased 1,800 square feet at 3919 Colleyville Blvd. in Colleyville. Grant Brodeur of Novus Realty Advisors LLC represented the landlord.

Dirt Cheap has leased 35,848 square feet at Euless Town Center, 1201 Airport Freeway in Euless. Michael Tran and Brian Cyphers of Colliers International (USA)-Dallas represented the landlord.

Painted Tree Vintage Market has leased 37,141 square feet at 7800 Boulevard 26 Highway in North Richland Hills. Richard Webb of Emersons Commercial Management represented the landlord.

Dove Logistics & Transportation LLC has leased 17,888 square feet at Heritage Business Park, Building 8, 1080 S. Kimball Ave. in Southlake. Tyson Erwin of NAI Robert Lynn represented the tenant. Blake Kendrick, Sarah Ozanne and Ryan Boozer of Stream Realty Partners LP-Dallas represented the landlord.

United Compounding Pharmacy has leased 2,252 square feet at 425 Westpark Way in Euless. Roger Smeltzer of Vision Commercial Real Estate represented the landlord.

Avocados from Mexico has leased 11,533 square feet of office space from AG-PCPI Urban Towers Owner LP at 222 Las Colinas Blvd. in Irving. John Fancher and Matt Schendle of Cushman & Wakefield represented the landlord. Kevin Kelly of CBRE represented the tenant.

Crystal Clear Concepts LLC has leased 7,466 square feet at Northridge Business Center, 2002-2006 N. Highway 360 in Grand Prairie. Chas Lester of Charles Lester Realty Advisors represented the tenant. Representing the landlord were Michael Spain and Kevin Santaularia of Bradford Commercial Real Estate Services-GSW Office.

Fastening Solutions has leased 16,380 square feet at Northcourt Center, 901-909 Avenue T in Grand Prairie. Michael Peinado and Gil Stroube of Lincoln Property Co.–Dallas represented the landlord.

Send real estate news to lgraham@bizpress.net

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