New Home Co. Finalizes Acquisition of Landsea Homes
Deal News | Jun 25, 2025 | Globenewswire
New Home Co. has completed the acquisition of Landsea Homes Corporation, marking a significant expansion in the homebuilding sector. The merger creates a combined entity that ranks as a top-25 national homebuilder. The acquisition was financed through equity contributions from Apollo, land banking capital from Millrose Properties, and a senior notes offering by New Home Co. Landsea Homes' shareholders received $11.30 per share in cash. The newly formed company will be led by Matthew Zaist, the President and CEO of New Home. The transaction is expected to facilitate growth, market diversification, and improved customer experiences. Advisors for the deal included J.P. Morgan Securities, RBC Capital Markets, Vestra Advisors, and Wells Fargo for New Home, while Moelis & Company acted for Landsea Homes. Legal counsel was provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP for New Home, and Latham & Watkins LLP for Landsea Homes. This strategic move was part of New Home's long-term growth strategy, focusing on expanding their platform and offerings.
Sectors
- Real Estate & Construction
- Finance & Investment
Geography
- United States – The companies involved, New Home Co. and Landsea Homes, are based in the U.S., and the acquisition affects the U.S. housing market.
Industry
- Real Estate & Construction – The article discusses the acquisition of Landsea Homes by New Home Co., both of which are significant players in the residential construction industry.
- Finance & Investment – Apollo's role in financing the acquisition represents a critical financial and investment aspect of the transaction.
Financials
- $11.30 per share – The cash amount paid to Landsea Homes' shareholders per share as part of the acquisition.
- $522 million – The amount Millrose Properties invested in acquiring homesites under option with New Home Co.
- $785 billion – Apollo's assets under management as of March 31, 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| New Home Co. | Acquirer | Company | A diversified asset-light homebuilder focused on entry-level and first-time move-up buyers. |
| Landsea Homes Corporation | Target company | Company | A residential homebuilder known for designing sustainable, master-planned communities. |
| Apollo | Financial backer | Company | A global alternative asset manager providing capital for the acquisition. |
| Millrose Properties | Land banking capital provider | Company | Acquired homesites under option with New Home in connection with the transaction. |
| Matthew Zaist | CEO | Person | President and Chief Executive Officer of New Home Co. |
| J.P. Morgan Securities LLC, RBC Capital Markets, Vestra Advisors, and Wells Fargo | Financial advisors | Company | Advised New Home on the acquisition. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Legal counsel for New Home | Company | Provided legal advice to New Home in the transaction. |
| Moelis & Company LLC | Financial advisor for Landsea Homes | Company | Advised Landsea Homes on the acquisition. |
| Latham & Watkins LLP | Legal counsel for Landsea Homes | Company | Provided legal advice to Landsea Homes in the transaction. |