Landsea Homes, No. 35 on the 2023 BUILDER 100 list, continues its expansion in Texas by entering a definitive agreement to acquire Dallas-Fort Worth-based Antares Homes.
“Since entering Texas in 2021 and purchasing additional lots in August of last year, we have been searching for the right opportunity to significantly expand our presence in Texas, and today’s announcement achieves exactly that,” says John Ho, CEO of Landsea Homes. “Antares Homes shares our philosophy of building quality homes and providing exceptional customer service, making them the perfect addition to the Landsea Homes family.”
The Texas market has become an important market for the builder since it first entered in 2021 through the acquisition of Vintage Estate Homes. The company relocated its corporate office to Dallas in March 2023 and has further expanded operations in the Lone Star state since the move.
“Fort Worth’s growing Chisholm Trail Parkway corridor has become an ideal location for home buyers attracted to superior connectivity and neighborhoods that offer comprehensive communities,” says Ho. “Antares Homes is building new homes in 19 communities located in 13 unique, desirable locations across the Dallas-Fort Worth metro and provides us with the perfect opportunity to achieve more size and scale in Texas.”
Family-owned Antares Homes is known for specializing in energy-efficient home construction in their communities, according to Landsea.
Landsea intends to purchase Antares Homes for $232.2 million in cash, which includes repayment of an anticipated $47.2 million of Antares Homes debt. The transaction has been unanimously approved by the Landsea Homes board of directors and is expected to close in early February.
“Landsea Homes’ veteran home building leadership team is guided by many of the same principles that we have used to build Antares Homes,” says Antares Homes president Tommy McAden. “The opportunity to introduce Landsea’s High Performance Homes concept to our region and become part of one of Texas’ up-and-coming home builders makes this the perfect fit for the Antares Homes team.”
Landsea says the Dallas-Fort Worth market is attractive due its steady economic growth and urban development, “robust job market,” and continued expansion.
