Landsea Homes Corporation completed the acquisition of Antares Homes, Ltd from a family for $242.5 million.
April 01, 2024
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Landsea Homes Corporation (NasdaqCM:LSEA) agreed to acquire Antares Homes, Ltd from a family for approximately $230 million on January 8, 2024. Landsea Homes intends to purchase Antares Homes for $232.2 million in cash, which includes repayment of an anticipated $47.2 million of Antares Homes debt. Landsea Homes expects to fund the transaction with a combination of cash and borrowings under its revolving credit facility. The transaction is subject to customary working capital adjustments and customary closing condition. As per the terms, Landsea Homes Corporation (NasdaqCM:LSEA) will acquire all the employees of Antares Homes, Ltd. The transaction has been unanimously approved by the Board of Directors for Landsea Homes Corporation (NasdaqCM:LSEA) and is expected to close in early February of 2024. Vestra Advisors LLC served as financial advisor and Darren Guttenberg of Latham & Watkins LLP acted as a legal advisor to to Landsea Homes Corporation. Donald Hammett, Christina Heddesheimer, Janelle Owusu and Maddie Wolf of Alston & Bird LLP and Mier Law PLLC acted as a legal advisor to Antares Homes, ltd.
Landsea Homes Corporation (NasdaqCM:LSEA) completed the acquisition of Antares Homes, Ltd from a family for approximately $240 million on April 2, 2024. Landsea Homes intends to purchase Antares Homes for $242.5 million in cash, which includes repayment of an anticipated $43.2 million of Antares Homes debt.
Landsea Homes Corporation is a residential homebuilder. It designs, construction, markets and sales of suburban and urban single-family detached and attached homes in Arizona, California, Colorado, Florida, Texas, and Metro New York. The Arizona market includes entry-level, single-family homes in Avondale, Buckeye, Chandler, Goodyear, Mesa, Phoenix, Queen Creek, Surprise and Tolleson. The California market consists of single-family detached and attached homes in Alameda, Contra Costa, Marin, San Joaquin and Santa Clara counties in Northern California and Los Angeles, Orange and San Bernardino counties in Southern California. The Metro New York market consists of a condominium project in the Chelsea neighborhood in New York City, New York. The Texas market includes single-family homes and a master-planned community around Austin. The Colorado market focuses on entry level and first-time move up communities with new single-family detached homes in Mead and Brighton.
LANDSEA HOMES CORPORATION 
