August 6, 2018
LGI Homes Inc. is extending its range eastward by acquiring the real estate assets of Wynn Homes, a 20-year-old homebuilder in Raleigh, NC. The buyer, headquartered in The Woodlands, TX, paid $80 million for approximately 200 homes under construction, and approximately 4,000 lots available in the Raleigh and Wilmington markets.
Wynn Homes builds affordable single-family homes and townhomes, priced from $140,000-$450,000.
“This is an opportunistic purchase for LGI Homes, comprised of homes in various states of construction, finished lots, and land under development covering a large portion of these markets,” said Eric Lipar with LGI Homes. “The acquisition of Wynn Homes provides us with a valuable asset position, allowing us to accelerate our growth in one of the nation’s fastest-growing markets.”
Pictured: Eric Lipar
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