The acquisition increases Tennessee land and lot holdings for the
national leader in online homebuying
NASHVILLE, Tenn., Jan. 22,
2024 /PRNewswire/ -- Century Communities, Inc.— a top
10 national homebuilder, industry leader in online home sales,
and the highest-ranked homebuilder on Newsweek's list of America's
Most Trustworthy Companies 2023—today announced the acquisition of
substantially all the assets of Landmark Homes of Tennessee, Inc. ("Landmark Homes"), a
prominent homebuilder in the Greater
Nashville area for over three decades.
This strategic acquisition further cements Century Communities'
position as a leading builder in Greater
Nashville and grows Century Communities' already sizable
presence in the fast-growing metro with over 800 additional current
and future lots, including homes now selling at six active Landmark
Homes communities in Lebanon,
Mount Juliet, Hermitage, Murfreesboro and Brentwood. Focused on first-time and move-up
buyers, pricing for Landmark Homes' existing inventory ranges from
the low $300ks to the low $600ks.
"Landmark Homes has worked hard to build a respected brand in
the Nashville area for decades,
and we are proud to welcome them to the Century Communities team,"
said Dale Francescon, Chairman and
Co-CEO of Century Communities. "This acquisition allows us to
expand our already strong footprint around Nashville and deliver A Home For Every Dream®
to even more buyers in desirable locations."
"We are excited to build on our strong track record of
successfully acquiring other homebuilders with another strategic
acquisition as we add existing and future lots to our land
portfolio," said Rob Francescon,
Co-CEO and President of Century Communities. "This transaction
furthers our goal of increasing community count and market share
throughout and beyond our geographic footprint through the
opportunistic acquisition of other homebuilders to augment the
organic expansion of our land portfolio."
"I'm proud of the outstanding work by the Landmark Homes team in
building and delivering high-quality new homes for over 30 years,"
said Gary Wisniewski, President and
CEO of Landmark Homes. "With their shared passion for great
homebuilding, commitment to excellence, and industry-leading
homebuying experience, Century Communities is the perfect
organization to expand on our mission of making homeownership more
achievable to buyers in the Greater
Nashville area."
Renowned at land acquisition and development, Mr.
Wisniewski—along with Landmark Homes' Chief Operating Officer
Nick Wisniewski—will continue to
source and develop lots for Century Communities following the
closing of the acquisition.
Builder Advisor Group, LLC served as exclusive financial advisor
for Landmark Homes.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is one of the nation's
largest homebuilders, an industry leader in online home sales, and
the highest-ranked homebuilder on Newsweek's list of America's Most
Trustworthy Companies 2023. Through its Century Communities and
Century Complete brands, Century's mission is to build attractive,
high-quality homes at affordable prices to provide its valued
customers with A HOME FOR EVERY DREAM®. Century is engaged in all
aspects of homebuilding — including the acquisition, entitlement
and development of land, along with the construction, innovative
marketing and sale of quality homes designed to appeal to a wide
range of homebuyers. The Company operates in 18 states and over 45
markets across the U.S., and also offers title, insurance and
lending services in select markets through its Parkway Title, IHL
Home Insurance Agency, and Inspire Home Loans subsidiaries. To
learn more about Century Communities, please visit
www.centurycommunities.com.
About Landmark Homes
Landmark Homes was founded by Gary
Wisniewski and has been focused on homebuilding in greater
Nashville, TN, for over 30 years.
Landmark Homes approaches home building through a
"Customer-Centric" approach that focuses on the clients'
preferences and excellent customer satisfaction. Focused on
flexible building practices and home personalization, Landmark
Homes has developed an outstanding reputation for building
exceptional homes with a commitment to integrity, quality, and
customer satisfaction. To learn more about Landmark Homes, please
visit www.yourlandmark.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and, as such, may involve known and unknown risks,
uncertainties and assumptions. Forward-looking statements may be
identified by the use of words such as "anticipate," "believe,"
"expect," "estimate," "plan," "outlook," and "project" and other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters.
Forward-looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
historical information available at the time the statements are
made and are based on management's reasonable belief or
expectations with respect to future events, and are subject to
risks and uncertainties, many of which are beyond the Company's
control, that could cause actual performance or results to differ
materially from the belief or expectations expressed in or
suggested by the forward-looking statements. Forward-looking
statements speak only as of the date on which they are made and the
Company undertakes no obligation to update any forward-looking
statement to reflect future events, developments or otherwise,
except as may be required by applicable law. Investors are referred
to the Company's Annual Report on Form 10-K for additional
information regarding the risks and uncertainties that may cause
actual results to differ materially from those expressed in any
forward-looking statement.
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SOURCE Century Communities, Inc.