M
cKinley Homes has expanded its presence in Texas with the acquisition of Liberty Home Builders Houston. The deal adds six residential subdivisions to McKinley's portfolio, including Barton Place in Cleveland, Encino Estates in Dayton, King Mills in Kingwood, Anderson Lake in Southwest Houston, and Stone Creek Ranch in Hockley. These communities will now operate under McKinley Homes Houston.
The financial terms of the purchase were not disclosed, but the acquisition marks a significant expansion for McKinley Homes, which manages 6,000 lots across five states. The company is led by experienced local leaders, including Damon Sachs as president and Johnny Sullivan and Dennis Ulanday as vice presidents of construction and sales.
Jinsong Yang, managing member of McKinley Homes, stated that the acquisition strengthens the company's foothold in one of the nation's fastest-growing markets. Houston's housing market ranked second in Texas for new home sales this year, with 32,791 units sold. The multifamily sector is also growing, with 21,500 units expected to be completed this year.
McKinley Homes plans to continue expanding its presence in the region by searching for opportunities to buy land and communities.
realestate
Houston-Based Liberty Home Builders Sold to Atlanta Developer
McKinley Homes expands Texas presence with acquisition of Liberty Home Builders Houston.
Read More - realestate
realestate
Brown & Riding Names New Real Estate Practice Head
Veteran leader with industry expertise and regional insight
Read More - realestate
realestate
LA's affluent neighborhoods face gentrification threat from investors
Fires may exacerbate LA's affordability crisis, pricing out low-income residents and making the area exclusive to the wealthy.
Read More
realestate
RioCan REIT Declares January 2025 Distribution Payment
RioCan Announces Distribution of 9.25 Cents Per Unit for January