KB Home, already a big player in the Jacksonville new-home market, just got bigger. The Financial News Daily Record reports:
The Jacksonville division of large national home builder KB Home acquired 700 developed and undeveloped lots in 14 communities in the Northeast Florida region on Thursday from Jacksonville-based Landon Homes.
KB Home and Landon officials declined to share financial details Deeds were not immediately recorded.
However, Landon's roughly 50 employees were offered positions with KB Home, which was founded in 1957 and has built nearly 600,000 homes, according to the company website.
The purchase includes nearly the entire holdings of Landon Homes, said Landon co-owner Jesse Killebrew, who helped found the company in 2012. There are only a couple of small developments with a few home lots that remain.
The president of KB's local division, Todd Holder, said this deal almost doubled the division's existing community count of 16, taking them to a total of 30, and that they still want to acquire more land.
