D.R. Horton acquires home-building assets of Breland Homes
Fort Worth, Texas-based home builder D.R. Horton has acquired the homebuilding operations of Breland Homes, which operates in Huntsville, Mobile and Baldwin County in Alabama and along the gulf coast of Mississippi. The home-building operating assets included about 320 homes in inventory and 1,020 finished lots. D.R. Horton will also control an additional 3,700 lots through option contracts.
In 2011, Breland closed 684 homes ($130 million in revenue). Breland’s average home size is about 2,200 sq. ft. with an average sales price of $200,000.
“Breland Homes has developed an excellent reputation for quality and service, and we welcome Breland to the D.R. Horton family,” said Donald Horton, chairman of the board, D.R. Horton. “We are very excited about the expansion of our operations in Mobile and Baldwin County and our entrance into the Huntsville and Mississippi Gulf Coast markets."
D.R. Horton has operations in 75 markets in 26 states in the East, Midwest, Southeast, South Central, Southwest and West regions of the United States.