MISSISSIPPI GULF COAST — Fort Worth, Texas-based D.R. Horton Inc., America’s Builder, has acquired the homebuilding operations of Breland Homes, which operates in Huntsville, Mobile and Baldwin County in Alabama and along the Mississippi Gulf Coast.
Terms were not disclosed.
The homebuilding operating assets included approximately 320 homes in inventory and 1,020 finished lots. D.R. Horton will also control an additional 3,700 lots through option contracts. In calendar 2011, D.R. Horton reports Breland closed 684 homes ($130 million in revenue), and was ranked as the 38th largest builder in the United States by Builder Magazine. Breland’s average home size is approximately 2,200 square feet with an average sales price of $200,000.
Louis Breland, founder of Breland Homes, said, “We are proud of the reputation that we have built for Breland Homes over the past 30 years, and we are delighted to become a part of D.R. Horton. Our operations will solidify D.R. Horton’s position as the largest builder in Mobile and Baldwin County and establish leading market share for D.R. Horton in Huntsville and coastal Mississippi, as well.”
According to D.R. Horton, it is the largest homebuilder in the United States, based on its 18,302 homes closed in the 12-month period ended June 30, 2012. Founded in 1978 in Fort Worth, D.R. Horton has operations in 75 markets in 26 states in the East, Midwest, Southeast, South Central, Southwest and West regions of the United States.