Lennar To Acquire Rausch Coleman's Homebuilding Operations
(RTTNews) - Home builder Lennar Corp. (LEN) announced Tuesday that it has entered into a definitive agreement to acquire Rausch Coleman Homes, a residential homebuilder based in Fayetteville, Arkansas. Terms of the deal were not disclosed.
Lennar will acquire Rausch Coleman's homebuilding operations, which expects to deliver approximately 5,000 homes with an average sales price of $230,000 in calendar year 2024.
In connection with Lennar's land light strategy, Lennar intends to assign the purchase of, and option, all of Rausch Coleman's land assets with a third party.
The acquisition will see Lennar expanding its footprint into new markets in Arkansas, Oklahoma, Alabama, Kansas and Missouri while adding to its existing footprint in Texas, Oklahoma, Alabama and Florida.
The acquisition will add to Lennar's community count and deliveries which are part of its 2025 growth target. The acquisition is expected to be completed in Lennar's first quarter of 2025.
