Atlanta Has a New Number One Builder
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How do you become Atlanta’s number one builder? Well, in this case, you buy them. We’ve been hearing rumblings of a purchase for a few weeks, but it looks like the deal is getting closer. Builder Pulse just teased the announcement that D.R. Horton is purchasing Crown Communities. Once the purchase is complete, Atlanta’s No. 2 new home builder, D.R. Horton will become Atlanta’s No. 1 builder. This acquisition will more than double D.R. Horton’s Atlanta market share to almost 15 percent, solidifying the company as metro Atlanta’s largest builder based on unit volume.
The merger between the two builders gives D.R. Horton broader geographic diversity in the market, as D.R. Horton’s current strength is in the northern arc, while Crown Communities predominantly builds in the southern metro counties. Crown Communities currently builds in approximately 39 communities in metro Atlanta. Although at present we are not sure if the purchase includes anything other than Crown’s Atlanta communities, the builder also builds outside of Atlanta, as well as in South Carolina and Alabama.
Crown Communities is a privately-held company. For 2013, Crown Communities reported a revenue total of $370 million on closings of 1,540 units.
Currently, D.R. Horton has 39 communities in metro Atlanta ranging from Cumming to Senoia and Canton to Locust Grove.
We reached out to executives at Crown Communities and D.R. Horton for comments but were unable to give much more information. It seems that more news will be available late next week.
What the list of Top Builders looks like after this merger:
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