Business
New Home Co. Completes Acquisition of Landsea Homes Corporation
Establishes Top 25 National Homebuilder with Strong Foundation for GrowthIRVINE, Calif., June 25, 2025 (GLOBE NEWSWIRE) -- New Home Co. (“New Home”) and Landsea Homes Corporation (“Landsea Homes”) today announced that New Home has completed the previously announced acquisition of Landsea Homes. The transaction brings together two highly complementary, leading homebuilders to create a privately-held, top-25 national homebuilder with a strong foundation for growth. The combined company will be led
About this update from Millrose Properties, Inc.
[{"type":"text","content":"Establishes Top 25 National Homebuilder with Strong Foundation for Growth","length":73,"tagName":"p"},{"type":"text","content":"IRVINE, Calif., June 25, 2025 (GLOBE NEWSWIRE) -- New Home Co. (“New Home”) and Landsea Homes Corporation (“Landsea Homes”) today announced that New Home has completed the previously announced acquisition of Landsea Homes. The transaction brings together two highly complementary, leading homebuilders to create a privately-held, top-25 national homebuilder with a strong foundation for growth.","length":394,"tagName":"p"},{"type":"text","content":"The combined company will be led by Matthew Zaist, current President and Chief Executive Officer of New Home.","length":109,"tagName":"p"},{"type":"text","content":"Mr. Zaist said: “We are pleased to complete this transaction, which marks an important next step in New Home’s long-term growth strategy. With greater scale, market diversity and a shared focus on delivering exceptional customer experiences, we are well positioned to further extend our platform and enhance our offerings to homebuyers. We look forward to all that we will accomplish together.”","length":394,"tagName":"p"},{"type":"text","content":"Effective today, Landsea Homes’ common stock has been delisted from NASDAQ. Landsea Homes shareholders are receiving $11.30 per share in cash for each share of Landsea Homes’ common stock they owned, without interest and less any applicable withholding taxes.","length":259,"tagName":"p"},{"type":"text","content":"The acquisition was funded with proceeds from (i) an equity contribution from funds managed by affiliates of Apollo (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), (ii) land banking capital from Millrose Properties (NYSE: MRP) which is acquiring $522 million of homesites under option with New Home in connection with the transaction, and (iii) a senior notes offering by New Home. AdvisorsJ.P. Morgan Securities LLC, RBC Capital Markets, Vestra Advisors, and Wells Fargo served as financial advisors to New Home. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to New Home.","length":622,"tagName":"p"},{"type":"text","content":"Moelis & Company LLC acted as exclusive financial advisor to Landsea Homes. Latham & Watkins LLP served as legal counsel to Landsea Homes.","length":146,"tagName":"p"},{"type":"te...