CalAtlantic Homes

CalAtlantic Group, Inc. was a home construction company based in Arlington, Virginia. As of 2018, it was the 4th largest homebuilder in the United States.[2] The company built homes for more than 113,000 families during its 46-year history.[3] In February 2018, the company was acquired by Lennar Corporation.[4]

CalAtlantic Group, Inc.
IndustryHome construction
PredecessorsStandard Pacific Homes and Ryland Homes
Founded2015; 6 years ago (2015)
DefunctFebruary 12, 2018; 3 years ago (2018-02-12)
FateAcquired by Lennar Corporation
HeadquartersArlington, Virginia
Key people
Scott D. Stowell, Chairman
Larry T. Nicholson, CEO & President
Jeff J. McCall, CFO
Production output
14,229 deliveries
RevenueIncrease $6.476 billion (2016)
Increase $0.484 billion (2016)
Total assetsIncrease $8.709 billion (2016)
Total equityIncrease $4.207 billion (2016)
Number of employees
3,055 (2016)[1]
Footnotes / references
[1]

The company's homes and target buyers varied widely. It operated in many of the largest housing markets in the country including California, Florida, Arizona, the Carolinas, Texas, Colorado, and Nevada.[1] The company developed subdivisions within urban metropolitan areas, as well as smaller groupings of new homes, and single homes such as rural ranch properties. The company was operated via various regional divisions representing different parts of the United States.[5]

HistoryEdit

The company was incorporated in 1961 by Arthur Svendsen and Ronald Foell, and began construction of its first subdivision in 1965.[6] Operations expanded to include San Diego in 1969,[7] Texas in 1978,[8] Arizona in 1998, Colorado in 2000, and Florida in 2002.

In June 2015, Standard Pacific Homes and Ryland Homes announced a merger.[9][10]

In 2016, the company invested $1.6 billion in land acquisition and development.[11][12]

In 2016, Builder Magazine named CalAtlantic its builder of the year.[13]

In May 2016, the company announced a development in Colorado that catered to both older and younger buyers.[14]

In August 2016, the company announced plans to develop 250 homes near Charlotte, North Carolina.[15]

In November 2016, the company announced a development in Colorado.[16]

In January 2017, the company opened 2 subdivisions in the Chicago area.[17]

In June 2017, the company acquired Oakpointe, LLC and entered the Seattle market.[18][19][20]

In July 2017, the company paid $10.94 million for a property in Miami-Dade County, Florida that was approved for 220 homes.[21]

In February 2018, the company was acquired by Lennar Corporation, and Lennar became the largest homebuilder in the United States.[22][23]

ReferencesEdit

  1. ^ a b c "CalAtlantic Group, Inc. 2016 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "The Top 100: 2018". Hanley Wood.
  3. ^ "CalAtlantic Group, Inc. - FORM 8-K - EX-99.1 - PRESS RELEASE ANNOUNCING FINANCIAL RESULTS - April 28, 2011". getfilings.com. U.S. Securities and Exchange Commission.
  4. ^ "Lennar buys CalAtlantic to become largest U.S. homebuilder". Reuters. 2017-10-30. Retrieved 2020-08-20.
  5. ^ Chappell, Carisa Crawford (January 31, 2017). "In Glen Burnie, Md. community, residents find comfort in the quaintness". The Washington Post.
  6. ^ COLLINS, JEFF (September 14, 2015). "Standard Pacific-Ryland merger will create a homebuilding colossus". Orange County Register.
  7. ^ "Standard Pacific: A Great Choice In San Diego". San Diego Daily Transcript. June 1, 2000.
  8. ^ "Standard Pacific Homes ramps up Dallas-area operations". The Dallas Morning News. August 30, 2012.
  9. ^ "Standard Pacific Corp. and The Ryland Group, Inc. Merge to Create CalAtlantic Group, Inc., America's Fourth Largest Homebuilding Company" (Press release). PR Newswire. October 1, 2015.
  10. ^ Proctor, Carolyn M. (August 19, 2016). "The region's top homebuilders haven't just been building homes, but new companies". American City Business Journals.
  11. ^ "CALATLANTIC EARNINGS BEAT ESTIMATES". Hanley Wood. February 8, 2017.
  12. ^ Salzman, Avi (September 17, 2016). "Home Builder CalAtlantic's Shares Have Room to Grow". Barron's.
  13. ^ McManus, John (May 9, 2016). "2016 BUILDER OF THE YEAR: CALATLANTIC GROUP". Hanley Wood.
  14. ^ SAMUELSON, MARK (May 20, 2016). "As CalAtlantic readies low-maintenance ranches in The Meadows, both younger and older buyers say they want single-level living". The Denver Post.
  15. ^ Fahey, Ashley (August 9, 2016). "National homebuilder to develop 250 homes at Rea Farms". American City Business Journals.
  16. ^ "CALATLANTIC HOMES ANNOUNCES COLORADO COMMUNITY". Hanley Wood. November 28, 2016.
  17. ^ "CALATLANTIC OPENS TWO CHICAGO-AREA COMMUNITIES". Hanley Wood. January 23, 2017.
  18. ^ "CalAtlantic Homes Enters Seattle Market" (Press release). PR Newswire. June 13, 2017.
  19. ^ COLLINS, JEFF (June 15, 2017). "CalAtlantic acquires Seattle homebuilding operation". Orange County Register.
  20. ^ Stiles, Marc (June 13, 2017). "Big homebuilder CalAtlantic Homes buys Kirkland firm to enter the Seattle market". American City Business Journals.
  21. ^ Bandell, Brian (July 28, 2017). "National homebuilder pays $11M for approved development site in Miami-Dade". American City Business Journals.
  22. ^ "Lennar Completes Strategic Combination with CalAtlantic" (Press release). PR Newswire. February 12, 2018.
  23. ^ Bandell, Brian (February 12, 2018). "Lennar becomes nation's largest homebuilder with acquisition of CalAtlantic". American City Business Journals.

External linksEdit

Official website