Beazer Homes has acquired Marietta, Georgia-based Venture Homes, a 34-year-old privately held home builder, for $65 million. Venture Homes, known for building affordable single-family homes and townhomes throughout metro Atlanta’s north and west sides, gives Beazer access to a growing demographic in Atlanta – the first-time, entry-level buyer.
“This acquisition allows us to accelerate our growth in Atlanta, a highly desirable market supported by robust job growth, solid affordability and favorable supply dynamics,” said Allan Merrill, President and CEO of Beazer Homes. “In addition to adding new and future communities, we are pleased to welcome our new colleagues who will enable us to pursue further growth in the Atlanta market in the years ahead.”
Venture Homes, who recently appeared on Atlanta Real Estate Forum Radio, is currently building in nine active communities with 18 additional planned communities throughout metro Atlanta, with prices ranging from the high $100,000s to the $400,000s. According to the statement provided to the press, Venture Homes has generated $69.9 million of homebuilding revenue throughout the last 12 months from 277 closings, with an average sale price of $252,200. Beazer will acquire more than 1,000 lots, as well as substantial in-process construction work and 51 homes currently in backlog.
Venture Homes Founder, CEO and President, Robert White Sr. stated, “While we received proposals from a number of other builders, Beazer Homes’ culture and commitment to delivering both a quality experience for buyers and opportunities for employees most closely aligned with our values. We’re excited about the opportunities that this combination creates for both our customers and our employees.”
This acquisition will move Beazer Homes from the 25th position in Atlanta’s active new home construction market to the top 10 based on closings. Combined, Beazer and Venture have closed more than 500 homes in Atlanta over the last 12 months. Learn more about Beazer Homes’ activity in Atlanta by listening to our interview with Division President Stephen Haines here.