Dallas-based Landsea Homes Corporation is acquiring Antares Homes of Arlington for more than $232 million.
“Since entering Texas in 2021 and purchasing additional lots in August of last year, we have been searching for the right opportunity to significantly expand our presence in Texas, and today’s announcement achieves exactly that,” Landsea CEO John Ho said in a news release. “Antares Homes shares our philosophy of building quality homes and providing exceptional customer service, making them the perfect addition to the Landsea Homes family.”
Landsea is a public-traded residential homebuilder.
“Fort Worth’s growing Chisholm Trail Parkway corridor has become an ideal location for homebuyers attracted to superior connectivity and neighborhoods that offer comprehensive communities,” Ho said. “Antares Homes is building new homes in 19 communities located in 13 unique, desirable locations across the Dallas-Fort Worth metro and provides us with the perfect opportunity to achieve more size and scale in Texas.”
Antares has built homes in Fort Worth, Arlington, Forney, Burleson, Granbury, and elsewhere. Landsea has developed properties in Texas, Colorado, Arizona, Florida, New Jersey, Boston, New York, and California.
“Landsea Homes’ veteran homebuilding leadership team is guided by many of the same principles that we have used to build Antares Homes. The opportunity to introduce Landsea’s High Performance Homes concept to our region and become part of one of Texas’ up-and-coming homebuilders makes this the perfect fit for the Antares Homes team,” said Tommy McAden, president of Antares Homes.
“Landsea Homes intends to purchase Antares Homes for $232.2 million in cash, which includes repayment of an anticipated $47.2 million of Antares Homes debt,” the release reads. “The transaction is subject to customary working capital adjustments upon closing. Landsea Homes expects to fund the transaction with a combination of cash and borrowings under its revolving credit facility.”
The deal is expected to close in early February, Landsea officials said.
