Century Communities Expands in Las Vegas Through Strategic Acquisitions
Greenwood Village, Colorado (PRWEB) April 23, 2014 -- Century Communities, Inc. (the “Company”), a leading builder of upscale single-family homes, townhomes and flats in select markets, today announced that it has completed the acquisition of the operations and assets of Dunhill Homes Las Vegas Operations. The strategic acquisition continues Century Communities’ strategy of expanding into markets with strong economic fundamentals, through a platform to provide appropriate operational and marketing efficiencies.
“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,” stated Robert Francescon and Dale Francescon, Co-Chief Executive Officers of Century Communities. “More than the homes and land inventory, this acquisition allows us to add an experienced operations team, with a reputation of delivering quality homes in well-located communities. Additionally, Las Vegas remains a land constrained market, and we are now uniquely positioned within communities that would be very difficult to replicate today, with land inventory to drive future growth.”
The Company acquired land, homes under construction and model homes in five communities, two of which are fully amenitized, master plan communities. The communities offer one- and two-story single family homes with sizes ranging from 1,350 square feet to nearly 3,700 square feet. The homes boast bright and open floor plans with smart, livable designs and provide for extensive options. In addition, two of the master planned communities include 18-hole championship golf courses as well as 35,000 square foot recreation centers with resort-style swimming pools and state-of-the-art fitness facilities.
As a result of this transaction Century Communities now owns 1,849 lots in Las Vegas. The acquisition brings the Company’s total land position of owned and controlled lots to 10,095, an increase of 21 percent since the end of 2013.
ABOUT CENTURY COMMUNITIES:
Colorado-based Century Communities is a leading builder of upscale single-family homes, townhomes and flats located in highly desirable areas in Denver, Colorado Springs, Fort Collins, Colorado, Austin and San Antonio, Texas and Las Vegas, Nevada. Century Communities is a top 100 homebuilder. To learn more about Century Communities please visit http://www.centurycommunities.com.
For more information, please contact:
David Messenger
Chief Financial Officer
303-770-8300
Safe Harbor Statement
Certain statements in this press release may be regarded as "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and may qualify for the safe harbor provided for in Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on various assumptions and the current expectations of the management of the Company, and may not be accurate because of risks and uncertainties surrounding these assumptions and expectations. Factors listed below, as well as other factors, may cause actual results to differ significantly from these forward-looking statements. There is no guarantee that any of the events anticipated by these forward-looking statements will occur. If any of the events occur, there is no guarantee what effect they will have on the operations or financial condition of the Company. Forward-looking statements included herein are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statement unless required to do so by the federal securities laws.
Some forward-looking statements discuss the Company’s plans, strategies and intentions. They use words such as “expects,” “may,” “will,” “believes,” “should,” “would,” “could,” “approximately,” “anticipates,” “estimates,” “targets,” “intends,” “likely,” “projects,” “positioned,” “strategy,” “future,” and “plans.” In addition, these words may use the positive or negative or other variations of those terms. All statements other than statements of historical fact are “forward–looking statements” for purposes of federal and state securities laws, including, but not limited to, statements about anticipated future operating and financial performance, financial position and liquidity, business strategies, regulatory and competitive outlook, investment and expenditure plans, capital and financing needs and availability, plans and objectives of management for future operations, developments regarding our capital plans, and other similar forecasts and statements of expectation and statements of assumption underlying any of the foregoing. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ from those expressed or implied by the forward-looking statement.
These statements are based on the current expectations of the management of the Company and are subject to uncertainty and to changes in circumstances. Major risks, uncertainties and assumptions include, but are not limited to: risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness, financial condition, losses and future prospects; the Company’s ability to integrate and operate the Dunhill Homes Las Vegas Operations assets successfully after the closing of the acquisition; the effect of general economic conditions, including employment rates, housing starts, interest rate levels, availability of financing for home mortgages, and the strength of the U.S. dollar; and other factors. However, it is not possible to predict or identify all such factors. Consequently, while the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties.
Mike Davidson, Century Communities, http://www.centurycommunities.com, +1 (303) 268-8362, [email protected]
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