PulteGroup to Purchase $450 million Portfolio From John Wieland Homes
PulteGroup is planning to buy a $450 million portfolio from Wieland Homes, Housing Wire reports.
The package includes 7,400 controlled lots and 280 homes that are in backlog. Wieland is one of the nation’s leading homebuilders and is a luxury home powerhouse in Southeastern metros like Atlanta, Charlotte, and Nashville.
"Population growth and housing demand in the Southeast are expected to remain strong for years to come, so this acquisition of the John Wieland Homes and Neighborhoods brand and its robust land pipeline provides a great opportunity to increase our market share and operating leverage in five important cities, while expanding our presence in the luxury segment,” Richard Dugas, the chairman, president and CEO of PulteGroup, said in a statement.