CalAtlantic Group, Inc. is a home construction company based in Arlington, Virginia and was America's 4th largest homebuilder as of 2016. The company built homes for more than 113,000 families during its 46-year history. In June 2015, Standard Pacific Homes and Ryland Homes announced the companies were merging. The combined company was expected to be the nation's fourth largest home builder. Following the merger the name was changed to CalAtlantic Group, Inc, traded on the NYSE under the ticker symbol CAA. In February 2018, the company was acquired by Lennar Corporation (LEN), creating the largest homebuilder in the US with combined revenues of $17 billion and a presence in 21 states.
Video CalAtlantic Homes
Homebuilding
The company constructed homes within a wide range of price and size targeting a broad range of homebuyers. It operated in many of the largest housing markets in the country with operations in major metropolitan areas including those in California, Florida, Arizona, the Carolinas, Texas, Colorado and Nevada. The company developed whole new subdivisions within urban metropolitan areas, as well as smaller groupings of new homes, and single homes like rural ranch properties. The company was run through various regional divisions representing different parts of the United States.
Maps CalAtlantic Homes
History
The company now known as Standard Pacific Homes was incorporated in 1961 by Arthur Svendsen and Ronald Foell, and began construction of its first subdivision in 1965. Operations expanded to include San Diego in 1969, Texas in 1978, Arizona in 1998, Colorado in 2000, and Florida in 2002. It reached $1 billion in annual revenues for the first time in 1999. After the merger, in 2016 the company invested $1.6 billion in land acquisition and development. They were the fourth largest builder in the United States, building in seventeen states. Builder Magazine also named CalAtlantic its builder of the year. In August 2016, the company announced plans to develop 250 homes near Charlotte, North Carolina. In June 2017, the company acquired Oakpointe, LLC and entered the Seattle market. In July 2017, the company paid $10.94 million for a property in Miami-Dade County, Florida that was approved for 220 homes.
In October 2017, CalAtlantic and Lennar Corporation agreed to a $5.7 billion merger. The combined company would become America's largest homebuilder, with combined revenues of $17 billion.
References
External links
Official website
Source of article : Wikipedia
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