WASHINGTON (dpa-AFX) - D.R. Horton Inc. (DHI) announced the acquisition of Wilson Parker Homes, which operates in Atlanta and Augusta, Georgia; Raleigh, North Carolina; Columbia, South Carolina and Phoenix, Arizona.
The homebuilding assets acquired include approximately 490 lots, 390 homes in inventory and 300 homes in sales order backlog, the majority of which relate to Wilson Parker's Atlanta operations.
D.R. Horton also acquired control of approximately 1,850 lots through option contracts. For the twelve months ended June 30, 2016, Wilson Parker closed 906 homes ($201 million in revenue) with an average home size of approximately 2,700 square feet and an average sales price of $222,000.
D.R. Horton expects to pay approximately $90 million in cash for the purchase.
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