A Florida-based custom homebuilder active in Central Texas has agreed to be acquired by a Southern California-based homebuilder.
Newport Beach-based Landsea Homes Corp. (Nasdaq: LSEA) announced April 27 plans to purchase Vintage Estate Homes for $54.6 million in cash.
The deal is expected to close in early May.
This would be Landsea’s first foray into the Texas and Florida housing markets. According to its website, Vintage Estate has built homes in Austin-area communities such as Saratoga Hills in Dripping Springs, MorningStar in Georgetown, Marbella in Leander, Thousand Oaks in Cedar Park, Riverview in Georgetown and Vistancia in Dripping Springs.