Arlington, Texas-based builder D.R. Horton Inc. has acquired Truland Homes, a privately owned homebuilder focused along the Florida and Alabama Gulf Coast markets, for approximately $100 million in cash.
The acquired homebuilding assets of Truland Homes include approximately 263 lots, 155 homes in inventory and 55 homes in sales order backlog. D.R. Horton also acquired 156 lots and control of approximately 400 lots through option contracts from Truland affiliates and 201 lots and control of approximately 260 lots through option contracts from third parties.
“We are excited for the Truland team to join the D.R. Horton family,” said Donald R. Horton, chairman of the board. “Their quality building operations and strong presence across the Gulf Coast make Truland a great addition to D.R. Horton’s already strong local market operations.”
“Leading Truland Homes over the last 13 years has been the most rewarding experience of my professional career,” said Nathan Cox, founder of Truland Homes. “The amazing team members that took us from our first home to over a billion dollars in total sales are the ones that deserve all the credit. No matter what, they always came through. In conjunction with growing Truland Homes over the last decade plus, D.R. Horton has afforded us the honor and privilege of becoming the largest lot supplier within their Gulf Coast region. We look forward to continuing as a key lot development partner for D.R. Horton.”
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What happened to monopoly protections in this country. Nobody says anything. It’s just pathetic. We deserve everything we get.