Landsea Homes Corporation, a publicly traded residential homebuilder, announced today that it has entered into a definitive agreement to acquire Antares Homes, a Dallas-Fort Worth-based homebuilder, for $232.2 million in cash. The transaction, once completed, will expand Landsea Homes’ presence in North Texas.
“Since entering Texas in 2021 and purchasing additional lots in August of last year, we have been searching for the right opportunity to significantly expand our presence in Texas, and today’s announcement achieves exactly that,” said John Ho, Chief Executive Officer of Landsea Homes. “Antares Homes shares our philosophy of building quality homes and providing exceptional customer service, making them the perfect addition to the Landsea Homes family.”
Antares Homes is a local, family-owned homebuilder with new homes throughout the Dallas-Fort Worth area, including Arlington, Burleson, Forney, and more. Known for specializing in quality, energy-efficient home construction in their communities and creating life-long relationships with their homebuyers, Antares Homes has continually strived to become one of the best homebuilders D-FW.
“Fort Worth’s growing Chisholm Trail Parkway corridor has become an ideal location for homebuyers attracted to superior connectivity and neighborhoods that offer comprehensive communities,” Ho added. “Antares Homes is building new homes in 19 communities located in 13 unique, desirable locations across the Dallas-Fort Worth metro and provides us with the perfect opportunity to achieve more size and scale in Texas.”
The purchase of Antares Homes includes repayment of an anticipated $47.2 million of Antares Homes debt. The transaction has been unanimously approved by the Landsea Homes board of directors and is expected to close in early February 2024. Upon closing, Antares Homes employees are expected to become part of the Landsea Homes team.
“Landsea Homes’ veteran homebuilding leadership team is guided by many of the same principles that we have used to build Antares Homes,” said Tommy McAden, President of Antares Homes. “The opportunity to introduce Landsea’s High-Performance Homes concept to our region and become part of one of Texas’ up-and-coming homebuilders makes this the perfect fit for the Antares Homes team.”
