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.

“The Acadia Homes acquisition is an effort to expand Taylor Morrison’s existing footprint in Atlanta to core ‘move up’ segments within the market,” she said. “Also, we believe Taylor Morrison’s existing business in Atlanta (and the company as a whole) will be able to optimize and benefit from Acadia’s urban product and design studio experience.”
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