Morrison Acquires Southlife

Giant Morrison Homes doubles its presence in Atlanta with the acquisition of SouthLife Homes, a major metro Atlanta homebuilder. With closings on 244 homes last year in the Atlanta area, SouthLife was on par with Morrison’s 258.

The addition of SouthLife, which builds homes in 10 communities in West Cobb, Paulding and Cherokee Counties for an average price of $185,000, expands Morrison’s offering of mid-priced single-family homes, says Morrison Homes Atlanta Division President Gregg Goldenberg. Prior to the acquisition, the average price for homes in one of Morrison’s 11 metro Atlanta communities was $235,000.

"We were able to get a product line in a few communities aimed more at entry-level buyers -- a large part of the Atlanta market," says Goldenberg.

The acquisition is expected to push Morrison Homes’ projected closings for the Atlanta area to over 600 in 2000, placing Morrison among the top six home builders in that market.

"We’ll be combining the best designs, features and techniques of both organizations into the homes and communities we offer in the Atlanta area," says Goldenberg. "And we’ll be able to serve a wider variety of customers now with more great locations, a large array of homes and a broad range of prices."

Although the management of the companies is still somewhat autonomous, Goldenberg says that the combined company expects to be in one office within a year, retaining management and staff from both Morrison and SouthLife.