- Strategic Expansion Marks the Seventh Market for Public
Homebuilder
- Veteran Colorado Homebuilding Executive Lisa Wiebelhaus
Named Division President
- Acquisition Brings High Performance Homes to Denver Metro Area
DALLAS, Oct. 19,
2023 /PRNewswire/ -- Landsea Homes Corporation
(Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly
traded residential homebuilder, announced today that the Company is
expanding into the Colorado
housing market through the acquisition of the assets and lot
inventory of Richfield Homes.
"We are very excited about this transaction, as it provides
Landsea with a unique opportunity to establish a presence in one of
the best housing markets in the country," said John Ho, Chief Executive Officer of Landsea
Homes. "This is another step forward in our ongoing plans to create
communities in desirable locations across the United States and provide high-quality
homes where residents can enjoy 'Living in their Element.'"
Veteran Colorado homebuilding
executive Lisa Wiebelhaus has been
named President of the new Landsea Homes Colorado division.
She joins Landsea Homes after working with Richfield Homes for more than seven years, most
recently serving as Managing Partner.
Prior to joining Richfield Homes,
she worked for twelve years as Vice President of Sales for
Colorado-based Richmond American
Homes, where she sold and closed upwards of 1100 homes per year. A
graduate of Colorado State University,
Lisa lives in Denver with her
husband and their children.
"We are very pleased to welcome Lisa to the Landsea Homes senior
management family," said Ho. "With nearly two decades of
homebuilding experience in Colorado, she has a wealth of strategic
insight, strong management skills and deep local roots that will
help us successfully launch this new division."
"Landsea Homes' exceptional reputation for innovative
homebuilding and strong commitment to customer service are well
known throughout our industry," said Wiebelhaus. "I'm excited and
honored to join Landsea Homes, and look forward to continuing to
grow our position in the Colorado
market by providing homebuyers with the perfect opportunities to
experience the High Performance Home lifestyle."
Landsea Homes' High Performance Home features include smart home
automation technology utilized by the Apple HomeKit™ environment
and energy saving to make life at home healthier and more
comfortable. The smart home automation features include an
Apple® HomePod mini™, wireless network Internet
throughout the home, entry door locks, thermostat control, garage
door opener control, light dimmer switches, doorbell camera
pre-wire, and white glove service with an individualized training
session through Best Buy's Geek Squad.
Colorado becomes the seventh
homebuilding market for Landsea Homes, including Arizona, Florida, New
York Metro, Northern
California, Southern
California and Texas. Continued low inventory and
pent-up demand are forecast to continue, extending a housing market
with strong fundamentals. Additionally, changing demographics could
continue to bolster the market, as millennials are expected to
become a strong force, with many reaching their peak homebuying
years in the coming years.
For more information about Landsea Homes, visit
www.landseahomes.com.
About Landsea Homes
Landsea Homes Corporation (Nasdaq:
LSEA) is a publicly traded residential homebuilder based in
Dallas, Texas that designs and
builds best-in-class homes and sustainable master-planned
communities in some of the nation's most desirable markets. The
company has developed homes and communities in New York, Boston, New
Jersey, Arizona,
Colorado, Florida, Texas and throughout California in Silicon Valley, Los Angeles and Orange County. Landsea
Homes was named the 2022 winner of the prestigious Builder of the
Year award, presented by BUILDER magazine, in recognition of a
historical year of transformation.
An award-winning homebuilder that builds suburban, single-family
detached and attached homes, mid-and high-rise properties, and
master-planned communities, Landsea Homes is known for creating
inspired places that reflect modern living and provides homebuyers
the opportunity to "Live in Your Element." Our homes allow people
to live where they want to live, how they want to live – in a home
created especially for them.
Driven by a pioneering commitment to sustainability, Landsea
Homes' High Performance Homes are responsibly designed to take
advantage of the latest innovations with home automation technology
supported by Apple®. Homes include features that make
life easier and provide energy savings that allow for more
comfortable living at a lower cost through sustainability features
that contribute to healthier living for both homeowners and the
planet.
Led by a veteran team of industry professionals who boast years
of worldwide experience and deep local expertise, Landsea Homes is
committed to positively enhancing the lives of our homebuyers,
employees and stakeholders by creating an unparalleled lifestyle
experience that is unmatched.
For more information on Landsea Homes, visit:
www.landseahomes.com.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws, including, but not limited to, our expectations
for future financial performance, business strategies or
expectations for our business. These statements constitute
projections, forecasts and forward-looking statements, and are not
guarantees of performance. Landsea Homes cautions that
forward-looking statements are subject to numerous assumptions,
risks and uncertainties, which change over time. Words such
as "may," "can," "should," "will," "estimate," "plan," "project,"
"forecast," "intend," "expect," "anticipate," "believe," "seek,"
"target," "look," or similar expressions may identify
forward-looking statements. Specifically, forward-looking
statements may include statements relating to:
*the completion or benefits of the proposed transaction with
Vintage Estate Homes (the "Acquisition");
*the future financial performance of Landsea Homes;
*changes in the market for Landsea Homes' products and services;
and
*other expansion plans and opportunities.
These forward-looking statements are based on information
available as of the date of the press release and our management's
current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements.
These risks and uncertainties include, but are not limited to,
the risk factors described by Landsea Homes in its filings with the
Securities and Exchange Commission ("SEC"). These risk
factors and those identified elsewhere in this press release, among
others, could cause actual results to differ materially from
historical performance and include, but are not limited to:
*the ability to recognize the anticipated benefits of the
Acquisition, which may be affected by, among other things,
competition, the ability to integrate the acquired business and the
ability of the acquired business to grow and manage growth
profitably;
*costs related to the Acquisition;
*the ability to maintain the listing of Landsea Homes' securities
on Nasdaq;
*the outcome of any legal proceedings that may be instituted
against the Company;
*changes in applicable laws or regulations;
*the inability to launch new Landsea Homes products or services or
to profitably expand into new markets;
*the possibility that the Company may be adversely affected by
other economic, business, and/or competitive factors; and
*other risks and uncertainties indicated in Landsea Homes' SEC
reports or documents filed or to be filed with the SEC by Landsea
Homes.
Accordingly, forward-looking statements should not be relied
upon as representing our views as of any subsequent date, and you
should not place undue reliance on these forward-looking statements
in deciding whether or not to invest in our securities. We do
not undertake any obligation to update forward-looking statements
to reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
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SOURCE Landsea Homes