IRVINE, CA—TRI Pointe Homes Inc. reports in aQ1 earnings report that its subsidiary's acquisition ofWRECO, a wholly owned homebuilding and real estatesubsidiary of Weyerhaeuser Co., is on target toclose early in the third quarter of the year. The acquisition, asGlobeSt.com reported in November 2013, will establish TRIPointe as one of the 10 largest homebuilders in the US based onestimated combined equity market value.
According to Doug Bauer, CEO of TRI Pointe, “Weare pleased with our strong operating results during the firstquarter while we continue to complete the integration andtransition of the WRECO companies. These results are a directresult of our disciplined land-acquisition processthat leads to the opening of new communities in excellentlocations.”
In the report, Bauer added that the firm is well positioned toachieve meaningful top- and bottom-line growth over 2013. When themerger is complete, the company “will be composed of sixwell-positioned regional homebuilding brands in some of the besthousing markets.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
