Landsea Homes Corporation (Nasdaq: LSEA), a publicly traded residential homebuilder, announced today it closed the purchase of Vintage Estate Homes, a Florida-based homebuilder with communities in Florida and Texas, for $54.6 million in cash.

“We are very pleased to finalize this transaction and gain immediate size and scale within Florida and Texas, two key markets with strong housing fundamentals,” said John Ho, Chief Executive Officer of Landsea Homes. “This acquisition is another step forward in our strategic expansion plans to create sustainable communities in highly-desired locations across the United States.”

“The Vintage Estates Homes team is renowned for providing superior homes at best-in-class value with exceptional customer service. This is a culture and approach very similar to ours, so the transition to our Landsea Homes brand in these important markets should be very seamless.”