IRVINE, Calif. – Trendmaker Homes, one of the largest builders in Houston, and four other builders across the nation, have acquired by TRI Pointe Homes for $2.8 billion. The builders had been subsidiaries of Weyerhaueser Co., one of the world’s largest lumber and building products companies. With the completion of this deal, which was announced in 2013, TRI Pointe became one of the nation’s top 10 home builders.
TRI Pointe bought Weyerhaeuser’s five market-leading brand builders with operations in key growth markets: Pardee Homes – Southern California and Las Vegas; Trendmaker Homes – Texas; Maracay Homes – Arizona; Winchester Homes – Washington, DC metro area; and Quadrant Homes – Puget Sound region of Washington State. As a group, Weyerhaeuser’s builder subsidiary ranked as the nation’s 18th largest home builder in 2012, selling 2,314 homes and generated more than $1 billion in revenue.
Since 1971 Trendmaker Homes has been building houses in Houston, constructing about 500 homes annually, most of them priced at at $400,000 or more. In addition, to building trade-up houses in Houston, Trendmaker has become a significant player in the vacation home market in central Texas. Will Holder, president of Trendmaker, is a frequently quoted building industry spokesman and he has been with the firm since March 1993. Holder was president of the Greater Houston Builders Association in 2012.
Irvine, Calif.-based TRI went public in an IPO last year . Based in Irvine, Calif, Tri Pointe is controlled by Barry Sternlicht, owner of Starwood Capital. With this deal, Tri Pointe would become one of the nation’s largest home builders.
Deutsche Bank Securities is serving as financial advisor to TRI Pointe and Gibson, Dunn & Crutcher LLP is TRI Pointe’s legal advisor.