Drees Homes, the No. 41 company on the 2024 Builder 100 list, is acquiring the assets of San Antonio-based Monticello Homes. The acquisition grows Drees’ portfolio to 11 metropolitan areas nationwide, including the four major Texas markets.

Mark Elphick, San Antonio division president for Monticello Homes, will continue to lead local operations following the acquisition.

“We are thrilled to announce our expansion into San Antonio and welcome Monticello’s employees to the Drees team,” says Drees Homes president Tim Terrell. “This move represents a significant milestone for our company as we continue to grow and innovate. The vibrant community and dynamic market here offer immense opportunities, and we are excited to contribute to the local economy. With a dedicated team in San Antonio and an award-winning portfolio of homes, we are confident in a bright future and look forward to building lasting relationships in this thriving region.”

Kentucky-based Drees Homes has a history in the Lone Star State dating back to 1984. The company established its foothold as “Drees Custom Homes” in the Dallas/Fort Worth metro before expanding to Austin in 1998 and Houston in 2014.

Founded in 1994, Monticello Homes has nine communities in San Antonio and the nearby towns of Boerne and New Braunfels.

“After three decades of building luxury homes in San Antonio and surrounding areas, I am excited and proud to pass our legacy to Drees Homes,” says Monticello Homes president and founder Wayne Moravits. “Monticello Homes has always been committed to delivering a personalized home building experience to our clients from innovative home design and construction to closing and customer service.”

Drees Homes CEO David Drees says the Monticello acquisition “perfectly aligns” with Drees Homes’ strategic plan and vision for the future. Approaching its 100th anniversary in 2028, Drees Homes is focused on its Centennial Strategy, aimed at growing the company nationwide.

Builder Advisor Group served as the exclusive sell-side advisor to Monticello Homes in the transaction.