PR Newswire
NASHVILLE, Tenn., Jan. 22, 2024
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.
