Zelman’s #1-Ranked Investment Banking Team Advised Dream Finders on Its Successful Acquisition of Crescent Homes
February 19 2024 - 6:00AM
Business Wire
Zelman Partners, A Walker & Dunlop Company (NYSE: WD),
served as exclusive buy-side M&A advisor to Dream Finders Homes
(NYSE: DFH) on its acquisition of privately-owned homebuilder
Crescent Homes.
The acquisition meaningfully enhances Dream Finders’ geographic
footprint and allows the company to expand into the markets of
Charleston and Greenville, South Carolina, and Nashville,
Tennessee.
“This is Zelman’s sixth M&A transaction in the last 12
months totaling more than $1.5 billion of transaction value and
representing over 70% market share over that time frame. These
transactions range in size from $25 million to more than $450
million and include buy-side and sell-side advisory roles involving
private homebuilders, single-family land developers and multifamily
developers, clearly demonstrating our ability to provide leading
M&A services to clients of any size across the housing
ecosystem. I’m incredibly proud to be surrounded by the most
talented, dedicated, experienced, and hard-working colleagues in
the business,” stated Zelman’s Head of Investment Banking, Tony
McGill.
Patrick Zalupski, Dream Finders’ founder, Chairman and Chief
Executive Officer, shared: “We have a long history of working with
the Zelman team, initially as an industry advisor when we were
raising private capital, then on our IPO in 2021, our debut High
Yield issuance in 2023, and as our buy-side advisor on this
acquisition. They understand our long-term goals and strategic
objectives, and have the right deal experience, horsepower and
personality to support our growing organization. Tony and his team
seamlessly complimented our internal diligence effort by assisting
in aggregating, organizing and analyzing project underwriting and
modeling information, supporting our internal approval processes,
and helping manage the various parties to keep deal documentation
and diligence on track.”
“Dream Finder’s stock has tripled since last year for good
reason. This is their second acquisition as a public company and
fifth acquisition since 2019, demonstrating management’s unwavering
commitment to driving shareholder value through increased scale,
geographic diversification, and access to high-quality land in
highly desirable locations. In addition, the structure of this
transaction adheres to Dream Finders’ disciplined land-light
operating philosophy that serves the dual purposes of maximizing
returns on equity while minimizing capital invested in land,”
stated McGill.
For more information please visit Zelman Investment Banking or
contact us directly here or 212-993-5855.
About Zelman
Founded in 2007, Zelman is the leading investment banking and
institutional research advisory firm dedicated exclusively to the
U.S. housing industry including single-family, multifamily, SFR /
BFR, building products, mortgage, technology, brokerage, and
related businesses. Zelman specializes in bespoke institutional
research and investment banking services encompassing mergers &
acquisitions, private equity capital raising, initial public
offerings, public bond underwritings, private debt placements and
related corporate finance, valuation and strategic advisory
services.
All securities offered through Zelman Partners LLC, a registered
broker dealer and member of FINRA and SIPC.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial
real estate finance and advisory services firms in the United
States. Our ideas and capital create communities where people live,
work, shop, and play. The diversity of our people, breadth of our
brand and technological capabilities make us one of the most
insightful and client-focused firms in the commercial real estate
industry.
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