A Colorado-based home builder has moved into the Las Vegas market.
Century Communities, a builder of single-family homes and townhomes, said Tuesday that it bought the local assets of Dunhill Homes.
Century acquired land, homes under construction and model homes in five communities. The number of lots in the portfolio totals 1,849 sites.
Century said in a statement that the buy fits its business plan of moving into markets with “strong economic fundamentals.” The company also builds in Denver, San Antonio and Austin, Texas.
“We are extremely excited to build an immediate presence in Las Vegas with the closing of this transaction, which highlights the continuation of our strategy to focus on the best locations in markets with favorable demographics and economic growth,” said co-CEOs Robert Francescon and Dale Francescon.
Century is now “uniquely positioned within communities that would be very difficult to replicate today, with land inventory to drive future growth,” they said.
The parties did not disclose a purchase price.
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