Home construction firm Lennar Corp. of Miami, Florida, (NYSE: LEN) announced an agreement to acquire residential home builder Rausch Coleman Homes of Fayetteville.
Terms of the transaction were not disclosed.
Rausch Coleman expects to deliver approximately 5,000 homes with an average sales price of $230,000 in 2024, Lennar said in a news release. The acquisition expands Lennar’s footprint to new markets in Arkansas, Oklahoma, Alabama, Kansas and Missouri while adding to its existing footprint in Texas, Oklahoma, Alabama and Florida.
Lennar said the deal will add to its community count and deliveries, which are part of its 2025 growth target.
The acquisition is expected to be completed in the first quarter of 2025.
Rausch Coleman was founded more than 65 years ago by Ernest “Buddy” Coleman. His grandson, John R. Rausch, is chair and CEO of the company.
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