Not long after its $2.8 billion merger with Weyerhaeuser Real Estate Company (WRECO), TRI Pointe is making a significant expansion in the form of 649 lots throughout seven new communities in California, Nevada, Washington state and Virginia.
“As was our practice before the merger with WRECO, TRI Pointe employs a disciplined land strategy with a focus on acquiring lots in prime locations along major transportation and employment centers,” TRI Pointe CEO Douglas Bauer said. “With the merger complete, we are an even more well-capitalized company with the ability to generate substantial cash flow and profits from homebuilding as well as strategic land sales for many years to come. These most recent acquisitions will help us build on the strong foundation we have established and drive long-term growth.”
The newly acquired lots are located in Irvine, Corona and Hansen Village in California; Clark County in Nevada; Lacey and Redmond in Washington; and Prince William County in Virginia.
TRI Pointe is now one of the 10 largest public homebuilders in the country by equity market capitalization. The move has placed its land inventory at a total of 31,000 owned or controlled lots, 19,000 of which are located in California.