With the metropolitan Las Vegas residential market on the upswing, some home builders are looking to expand their local footprint. To name one example, Century Communities recently acquired Dunhill Homes’ Las Vegas operations.
The acquisition boosts Century Communities’ Las Vegas portfolio to 1,849 lots and its total holdings to 10,095 controlled lots, which translates to a 21 percent jump since the end of 2013.
The move comes as a natural continuation of the developer’s strategy to expand into major markets with solid economic fundamentals, the company explained in a statement. Co-CEO’s Robert Francescon and Dale Francescon said that the move “allows us to add an experienced operations team, with a reputation of delivering quality homes in well-located communities.”
Additionally, Century is in a strong position in a land-constrained market, and its current assets will offer opportunities for growth.
Century now has a presence in five different residential communities, in the form of land, homes under construction and model homes. Two of those are master-planned communities with full amenities. The new additions to the company’s inventory are one- and two-story single-family homes that range in size from 1,350 to 3,700 square feet.