PulteGroup cuts a deal with Dominion Homes
PulteGroup, Inc. has acquired the real estate assets of Dublin, Ohio-based Dominion Homes, a homebuilder with a significant presence in the Ohio and Kentucky markets.
The deal involves an initial acquisition of about 6,500 lots, with 1,600 additional lots slated for purchase within the next 45 days upon completion of additional due diligence. These lots are spread throughout 27 open communities in Columbus, 11 in Louisville and three in Lexington. The specific financial terms of the transaction were not disclosed.
"In purchasing Dominion’s real estate portfolio, we acquired a number of well-located communities and immediately establish PulteGroup among the top builders in three new markets: Columbus, Louisville and Lexington, two of which are top 50 homebuilding markets in the US," said Richard J. Dugas, Jr., chairman, president and CEO of PulteGroup. "Dominion’s land pipeline expands our Midwest operations into three top metro markets, and gives us a great platform for further investment and growth."
Dugas added that Dominion CEO Keith Tomlinson — who is a former Pulte employee — will be working closely with Pulte’s executive management team to optimize the homebuying experience in these markets.
Dominion churned out about 850 homes in 2013, bringing in revenues of approximately $170 million.
CPBS introduces Composite Structural Insulated Sheathing
Composite Panel Building Systems (CPBS) has introduced Composite Structural Insulated Sheathing (C-SIS) to the market, a new eco-friendly fully composite sheathing for residential applications.
According to the company, C-SIS gets its energy-efficiency chops thanks to its fiberglass reinforced thermoset skin, which is bonded to the polyurethane foam insulation for added durability. The result is uninterrupted insulation, robust structural integrity, water-resistance and air-tight performance without the need for house wrap.
Additionally, the sheathing is made with 100% composite materials and is manufactured without adhesives.
C-SIS has earned both LEED points and green certification from the National Association of Home Builders (NAHB).
LG dryer earns Energy Star Emerging Technology Award
In advance of new federal efficiency standards for dryers set to take effect in 2015, the U.S. Environmental Protection Agency has handed the 2014 Energy Star Emerging Technology Award over to LG Electronics for its new EcoHybrid Heat Pump Dryer.
The EcoHybrid is described as the first dryer with heat pump technology to hit the market in the U.S., meaning it captures and recycles energy that’s generated during the drying cycle. This translates to up to 50% more energy savings, according to third-party testing.
"We applaud LG for being the first to offer a heat pump dryer for sale in North America," said Ann Bailey, director of Energy Star Products at EPA. "This super-efficient, cutting-edge technology has the potential to save significant amounts of energy and C02 emissions."
The EcoHybrid also features LG TrueSteam technology, Smart Diagnosis technology for automatic troubleshooting, 7.3 cubic feet of space,
"Moving the market to heat pump clothes dryers has the potential to provide consumers with a new level of laundry performance while delivering significant energy savings," said Jeff Harris, director technology and market strategy, Northwest Energy Efficiency Alliance (NEEA). "NEEA is looking forward to working with innovators like LG to help advance dryer energy efficiency and bring those savings home."