New Home Co. Completes Acquisition of Landsea Homes Corporation

Core Viewpoint - New Home Co. has successfully acquired Landsea Homes Corporation, creating a top-25 national homebuilder with a strong growth foundation [1][2]. Company Overview - New Home Co. focuses on designing, constructing, and selling attainable single-family homes targeting entry-level and first-time move-up buyers in high-growth markets across the West, Central, and Pacific Northwest regions [5]. - Landsea Homes is a residential homebuilder based in Dallas, Texas, known for designing and building sustainable master-planned communities in desirable markets, having received multiple awards for its transformation and sustainability efforts [6]. Transaction Details - The acquisition was funded through an equity contribution from Apollo, land banking capital from Millrose Properties, and a senior notes offering by New Home [3]. - Landsea Homes' common stock has been delisted from NASDAQ, with shareholders receiving $11.30 per share in cash [2]. Leadership - The combined company will be led by Matthew Zaist, the current President and CEO of New Home [1][2]. Advisors - J.P. Morgan Securities LLC, RBC Capital Markets, Vestra Advisors, and Wells Fargo served as financial advisors to New Home, while Moelis & Company acted as the exclusive financial advisor to Landsea Homes [4].