By james art 
WASHINGTON (dpa-AFX) – Homebuilder Lennar Corp. (LEN) announced Tuesday that it has entered into a definitive agreement to acquire Rausch Coleman Homes, a residential homebuilder based in Fayetteville, Arkansas. Terms of the deal were not disclosed.
Lennar will acquire Rausch Coleman’s homebuilding operations, which expect to deliver approximately 5,000 homes with an average sales price of $230,000 in calendar year 2024.
In connection with Lennar’s land disposal strategy, Lennar intends to transfer the purchase and option of all of Rausch Coleman’s land assets to a third party.
The acquisition will see Lennar expand its presence in new markets in Arkansas, Oklahoma, Alabama, Kansas and Missouri, adding to its existing footprint in Texas, Oklahoma, Alabama and Florida.
The acquisition will add to Lennar’s number of communities and supplies that are part of its 2025 growth target. The acquisition is expected to close in the first quarter of 2025. from Lennar.
Copyright(c) 2024 RTTNews.com. All rights reserved
Copyright RTT News/dpa-AFX