California home builder has big plans

A residential builder based in Southern California has gone on a buying spree in California, closing 13 land deals that represent 1,300 housing units, according to an article in the San Diego Union. 

City Ventures, which is based in Santa Ana, Calif., told the newspaper that the latest acquisitions are part of an 18-month plan to strengthen the company's presence in "California's rapidly recovering housing economy." 

A spokesman for the company, which has several active building projects in San Diego, said the firm is less than two years old, adding: "We don't suffer from legacy loans or legacy projects.”