Jul. 10, 2014, 4:12 PM
- Legendary Communities operates along the I-85 corridor of the Southeast, with a significant presence in the Atlanta and Greenvile-Spartanburg markets, along with a position in Charlotte (where MTH already has a presence). Founded in 2009, Legendary builds homes mostly for first and second move-up buyers in the price range of $120K-$550K. The company closed about 500 homes with $156M of revenue last year, and controls about 4K home sites as of June 30.
- The purchase price is about $130M.
- Source: Press Release
Sep. 4, 2013, 3:19 PM
- Meritage Homes (MTH -0.5%) acquires Nashville-based Phillips Builders for an undisclosed sum.
- This is MTH's fourth expansion market in two years.
- The deal gives MTH ~500 lots and its first presence in the area.
- "The acquisition of Phillips Builders provides MTH with a successful operation, respected management team and valuable asset position," CEO Steven Hilton says. (PR)
- More on MTH: SA contributor David Guarino says Meritage "is one of the better positioned builders to capitalize on the recovery."
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