William Lyon Homes Completes Acquisition of RSI Communities, a Southern California and Texas Based Homebuilder
March 09 2018 - 4:18PM
Business Wire
William Lyon Homes (the “Company” or “William Lyon Homes”)
(NYSE: WLH), a leading homebuilder in the Western U.S., today
announced that it has successfully completed the previously
announced acquisition of RSI Communities, a Southern California-
and Texas-based homebuilder, and three additional related real
estate assets (the “RSI Acquisition”). The closing of the RSI
Acquisition enhances the Company’s position in the Inland Empire of
California and marks the Company’s entry into Texas with immediate
size and scale in Austin as a foothold in Texas, as well as
projects in San Antonio.
Matthew R. Zaist, President and Chief Executive Officer of
William Lyon Homes, commented, “We are pleased to close the RSI
Acquisition today and strengthen our Southern California presence
and expand our operations into Texas, which we believe will drive
meaningful benefits from our increased operating scale and
geographic footprint. As we have previously discussed, we are
extremely excited to welcome the RSI team into the William Lyon
Homes family, and look forward to working with them to continue
providing our customers with a superior product and exceptional
services, while driving strong returns to our shareholders.”
About William Lyon Homes
William Lyon Homes is one of the largest Western U.S. regional
homebuilders. Headquartered in Newport Beach, California, the
Company is primarily engaged in the design, construction, marketing
and sale of single-family detached and attached homes in
California, Arizona, Nevada, Colorado, Washington and Oregon, and,
with the consummation of the RSI Acquisition, Texas. Its core
markets include Orange County, Los Angeles, the Inland Empire, the
San Francisco Bay Area, Phoenix, Las Vegas, Denver, Portland,
Seattle and, with the consummation of the RSI Acquisition, Austin
and San Antonio. The Company has a distinguished legacy of more
than 60 years of homebuilding operations, over which time it has
sold in excess of 102,000 homes (not including the RSI
Acquisition). The Company markets and sells its homes under the
William Lyon Homes brand in all of its markets except for
Washington and Oregon, where the Company operates under the Polygon
Northwest brand.
Forward-Looking Statements
Certain statements contained in this release and the
accompanying comments during our conference call that are not
historical information may constitute “forward-looking statements”
as defined by the Private Securities Litigation Reform Act of 1995,
including, but not limited to, forward-looking statements related
to: the anticipated benefits to be realized from the RSI
Acquisition; market and industry trends; anticipated operating
results and financial performance; market expansion; branding and
marketing names; and personnel roles and responsibilities. The
forward-looking statements involve risks and uncertainties and
actual results may differ materially from those projected or
implied. The Company makes no commitment, and disclaims any duty,
to update or revise any forward-looking statements to reflect
future events or changes in these expectations. Further, certain
forward-looking statements are based on assumptions of future
events which may not prove to be accurate. Additional information
concerning factors that could cause actual results to differ
materially is contained from time to time in the Company’s filings
with the Securities and Exchange Commission, including, but not
limited to, the Company’s annual report on Form 10-K for the year
ended December 31, 2017.
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version on businesswire.com: http://www.businesswire.com/news/home/20180309005766/en/
Investor/Media Contacts:Financial Profiles, Inc.Larry
Clark(310) 622-8223WLH@finprofiles.com
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