Dallas-based Gehan Homes has finalized its acquisition of Wonderland Homes, a regional builder active across four Denver submarkets.
Wonderland Homes, founded in 1966, has built communities across the Colorado Front Range and closed 96 homes in 2020. Its current offerings include townhomes and single-family homes priced from the $380,000s to the $600,000s.
"Denver is a top 10 housing market with strong fundamentals for sustainable growth," says John Winniford, president and CEO of Gehan Homes. "When researching the Denver market, we looked for a company that had an established team, sound leadership, and shared similar core values. It became evident we found that with Wonderland Homes. We will work together to scale the business with a combination of our financial resources, their exceptional product, and focus on the customer experience."
Gehan Homes, a wholly owned subsidiary of Sumitomo Forestry America, was recognized as the 10th-largest private home builder in the U.S. by BUILDER magazine in 2020 as well as the 26th largest in the U.S. In addition to Wonderland's existing backlog, Gehan Homes has acquired four actively selling communities and approximately 1,000 lots across the Denver area. Builder Advisor Group represented Wonderland Homes in the transaction.
"Wonderland Homes' roots date back to 1966. In those 55 years, we sold and closed approximately 3,000 homes," says Steve Phua, co-owner and president of Wonderland Homes. "Throughout our history, providing our customers with the best experience possible has always been our focus. In joining the Gehan Homes team, we believe Wonderland Homes will realize its full potential in our ongoing effort to be the builder of choice throughout the front range. We are proud that Gehan Homes has put their trust in our team and look forward to our new relationship together.”
