TRI Pointe Expects WRECO Deal to Close Q3

IRVINE, CA—TRI Pointe Homes Inc. reports in a Q1 earnings report that its subsidiary’s acquisition of WRECO, a wholly owned homebuilding and real estate subsidiary of Weyerhaeuser Co., is on target to close early in the third quarter of the year. The acquisition, as GlobeSt.com reported in November 2013, will establish TRI Pointe as one of the 10 largest homebuilders in the US based on estimated combined equity market value.

According to Doug Bauer, CEO of TRI Pointe, “We are pleased with our strong operating results during the first quarter while we continue to complete the integration and transition of the WRECO companies. These results are a direct result of our disciplined land-acquisition process that leads to the opening of new communities in excellent locations.”