Colorado's Century Communities buys Seattle homebuilder

Co-CEOs Dale and Rob Francescon of Century Communities.

Fast-growing Colorado-based homebuilder Century Communities Inc. is expanding again with the acquisition of a Seattle company, Sundquist Homes.

Greenwood Village-based Century (NYSE: CCS) said Wednesday it is acquiring "substantially all the assets of Sundquist Homes."

Terms of the deal were not announced.
"The strategic acquisition expands the company’s presence in this growing West Coast market and aligns well with the company’s objective to grow its operations in attractive markets with strong economic fundamentals," Century said in an announcement.
Century already had gained a footprint in the Washington state market via its $356 million merger in August with San Jose, California-based builder UCP Inc.
Lynnwood, Washington-based Sundquist focuses on building single-family homes priced in the $600,000 to $1.1 million range and with home sizes ranging from 2,200 to 3,700 square feet.
Sundquist has been rebranded as Century Communities. Larry Sundquist, founder and CEO of Sundquist Homes, will remain with Century, the company says.
With the deal, Century said it is acquiring an unspecified number of built homes and lots "in highly desirable submarkets of the greater Seattle area."
Century said that, with the addition of the Sundquist, it will be a top-10 homebuilder in the Seattle market.
Like Denver, Seattle is experiencing both record low inventory and high price appreciation...Read the story in the Denver Business Journal

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