Taylor Morrison Closes Acquisition of AV Homes

In a deal close to $1 billion, Taylor Morrison announced the finalized acquisition of AV Homes.

HousingWire reports that the acquisition adds Jacksonville to Taylor Morrison’s portfolio and expands its presence in five overlapping markets, including Orlando, Phoenix, Charlotte, Raleigh, and Dallas-Ft. Worth. The home builder now expects to generate $5 billion in revenue in 2018, with 54,000 lots in 19 markets. Taylor Morrison workforce will expand by 20 percent with the acquisition.

"When we set our sights on growing our business, we were looking for a builder whose footprint overlaid neatly with ours and could take us deeper into the top housing markets we operate in today," said Sheryl Palmer, Taylor Morrison chair and CEO.

Read more