SALT LAKE CITY, Jan. 18, 2018 /PRNewswire/ -- CalAtlantic
Homes, one of the nation's leading homebuilders, today announced
the acquisition of homebuilding operations of Utah-based Candlelight Homes, one of the
largest privately held homebuilders in the Utah market. As a result of the transaction,
CalAtlantic now owns or controls an additional 2,500 homesites
across 19 communities, ten of which are actively selling. The
balance of the communities are expected to open in 2019. In
connection with the acquisition, CalAtlantic has extended offers of
employment to all employees of Candlelight Homes who were engaged
in the company's homebuilding business. Zelman Partners served as
exclusive investment banker to Candlelight Homes.
"Candlelight Homes has built a reputation for offering
innovative, beautiful home designs in locations where discerning
homebuyers want to live," said Dave
Prolo, Utah Division President for CalAtlantic Homes. "This
acquisition provides CalAtlantic with a diverse portfolio of
homesites, which accommodate homes ranging from 1,100 to 4,000
square feet located throughout northern Utah County, Salt
Lake County and southern Davis
County. This exciting acquisition aligns with CalAtlantic's
commitment to provide exceptional homeownership opportunities to
buyers across the home buying spectrum."
"Utah's strong economy offers a
tremendous opportunity for CalAtlantic to expand upon the success
Candlelight Homes has already achieved in the Salt Lake City market," said Joe Salisbury, Partner of Candlelight Homes. "We
are confident CalAtlantic's core values and resources will enhance
the value and expand opportunities available to Utah homebuyers."
About CalAtlantic Group, Inc.
CalAtlantic Group, Inc.
(NYSE: CAA), one of the nation's largest and most respected
homebuilders, offers well-crafted homes in thoughtfully designed
communities that meet the desires of customers across the
homebuilding spectrum, from entry level to luxury, in 43
Metropolitan Statistical Areas spanning 19 states. With a trusted
reputation for quality craftsmanship, an outstanding customer
experience and exceptional architectural design earned over its
50-year history, CalAtlantic Group, Inc. utilizes its over five
decades of land acquisition, development and homebuilding expertise
to acquire and build desirable communities in locations that meet
the high expectations of the company's homebuyers. We invite you to
learn more about us by visiting www.calatlantichomes.com.
About Candlelight Homes
Candlelight Homes is one of
the largest privately held homebuilders in Utah. This award-winning company offers a
diverse range of single-family and townhome options with a
geographic concentration spanning northern Utah County, Salt
Lake County and southern Davis
County. Beautiful elevations and desirable communities are
why Candlelight Homes is recognized as one of the top homebuilders
in Utah. For more information, visit
www.candlelighthomes.com.
Media Contact: Danielle
Tocco
National Vice President,
Communications
CalAtlantic Group,
Inc.
Danielle.Tocco@calatl.com
Direct Line: 949.789.1633
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SOURCE CalAtlantic Group, Inc.
