DALLAS — Read this story and more North Texas business news from our partners at the Dallas Business Journal
Landsea Homes Corp. (Nasdaq: LSEA) said it will acquire Arlington-based Antares Homes for $232.2 million in cash.
This marks Landsea's first move in Dallas-Fort Worth home construction since moving its headquarters from California to Uptown Dallas last year. It has previously been acquiring construction sites in the Austin area. The deal adds 2,298 owned or controlled construction sites to Landsea's portfolio.
"Since entering Texas in 2021 and purchasing additional lots in August of last year, we have been searching for the right opportunity to significantly expand our presence in Texas, and today's announcement achieves exactly that," John Ho, CEO of Landsea Homes, said in a statement.
Antares' footprint, with 19 communities, focuses especially on outer-ring cities surrounding Fort Worth such as Burleson, Cleburne and Godley, as well as the city of Fort Worth, Arlington and Forney, among others.
The deal includes an anticipated repayment of $47.2 million in Antares Homes' debt. The transaction is expected to close in early February.
Landsea is one of the nation's largest homebuilders, ranking No. 35 on the 2023 Builder 100 with 2,527 closings and $1.4 billion in revenue in 2022. In addition to Texas, the builder has developed homes and communities in New York, Boston, New Jersey, Arizona, Florida, Colorado and California.