News
MERITAGE RAKES IN MORE LAND
September 24, 2012
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| Denver’s residential behemoth has bought more land for new neighborhoods. We chatted with Meritage Homes’ Brent Anderson who shed some more light on the company’s recent purchase of a swath of land in Longmont called Renaissance Filing 4 for $7.4M. Meritage purchased it from Clover Basin Homes and it includes more than 70 undeveloped residential lots, which the firm will turn into a new community. (Just think, soon that empty land will be teeming with neighbors trying to outdo each other's gardens.) "Denver has been one of our best markets for the last year or so," Brent says, with average home prices fetching $330k versus $270k nationally. Brent says it’s the company’s latest land acquisition focused on states where the housing recovery is in full swing. And it comes on the heels of Meritage’s $110M capital raise. Cassidy Turley’s Mike Kboudi, Jim Capecelatro, and Russell Baker brokered the Renaissance Filing sale. |
