Arizona Homebuilder Taylor Morrison's Acquisition Of California Company May Bring New Development To Valley
A Scottsdale-based homebuilder, considered one of the nation’s largest, is getting bigger after buying a competitor.
Taylor Morrison has just purchased California company William Lyon Homes. The combined company will have a portfolio of approximately 80,000 lots to develop and about 430 neighborhoods in seven states including Arizona.
“We under-built for many years, then builders started to pick up the pace again, but there was much overhang from the recession. So we had limited supply to begin with. We have a constrained supply going forward. And we have substantial population growth," said Stapp.
The acquisition's total cost is approximately $2.5 billion. The deal expands local scale and expertise within six of Taylor Morrison’s major markets, while expanding the company into Washington, Oregon and Nevada.
The combined company will be the fifth largest homebuilder in the U.S.