By Roberta Maynard. With its latest East Coast acquisition, KB Home has made its way into a third Florida market. About 18 months ago, the company bought Trademark Homes in Jacksonville, and last summer launched a start-up division in Tampa.
By purchasing American Heritage Homes last month, the Los Angeles-based builder bit off a five percent share of the Orlando market and also strengthened its Tampa operation. American Heritage is the third largest builder in Orlando and ranks 74th on the Builder 100. Last year, the company generated revenues of $140 million on 800 single family homes in the two markets.
American Heritage president Mark Ezzard has long-time connections in central Florida that had enabled the company to achieve a strong land position. The builder had control of 4,000 lots when the deal closed in early October.
KB Home paid $74 million, including the assumption of some $46 million in debt. Ezzard said he was "pleased" with the arrangement. He will stay on as head of the division with no fixed terms of departure. Published in BIG BUILDER Magazine, November 2002