Atlanta continues to be a target for public builders.
Today, Taylor Morrison announced that it bought Acadia Homes & Neighborhoods for $85 million. It's the company's second purchase in the market in the last 12 months. Last May, the Scottsdale, Ariz.-based public bought JEH Homes, a top 10 builder in the market.
The Atlanta Business Chronicle's Phil W. Hudson provides some more background on the deal:
Taylor Morrison President and CEO Sheryl Palmer said the move solidifies the company’s position as a top home builder in Atlanta as Acadia’s average sales price in the low $400,000s will complement Taylor Morrison’s existing market’s mid-$200,000 average sales price.
In an exclusive statement for Atlanta Business Chronicle, Palmer explained the rationale behind the deal.