North Texas builder acquires majority stake in Florida rental home company

  • 📰 dallasnews
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 71%

Business News News

Business Business Latest News,Business Business Headlines

Gehan Homes, a Dallas-Fort Worth homebuilder, buys 80% of Southern Impression Home to enter into the rental housing market.

“This transaction provides our company entry into the emerging and evolving build-to-rent space and provides an opportunity to diversify our offerings,” John Winniford, president and CEO of Gehan Homes, said in a statement, noting the. “As the macro environment changes, higher home prices and rising interest rates should only increase the demand for rental homes.”

Southern Impression Homes operates in the northeast, north central and southwest areas of Florida. The company has developed townhomes, single-family homes, duplexes, quadplexes and small apartment complexes. It owns and controls about 5,000 lots. The Florida builder’s single-family rentals range from 1,200 to 2,000 square feet, and its multifamily units range from 950 to 1,300 square feet. Its clients include both individual real estate investors buying homes for their personal portfolio and institutional investors building large-scale rental operations.

Those include Texas, Arizona, Colorado and Tennessee, where the company has built more than 120 communities under the Gehan Homes, Gray Point Homes and Wonderland Homes brands. In Texas, the company has communities throughout Dallas-Fort Worth as well as in the Austin, Houston and San Antonio areas. Gehan was the 29th-largest homebuilder in the nation in 2021 with 3,166 closings bringing in $1.2 billion in revenue, according to

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 18. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New projects in North Texas for January 13, 2023 - Dallas Business JournalHere’s a look at the latest new projects registered in North Texas with the Texas Department of Licensing and Regulation, a list of new construction, renovations and alterations in Dallas, Fort Worth and beyond. All projects listed are public records.
Source: DallasBizNews - 🏆 525. / 51 Read more »

New projects in North Texas for January 13, 2023 - Dallas Business JournalHere’s a look at the latest new projects registered in North Texas with the Texas Department of Licensing and Regulation, a list of new construction, renovations and alterations in Dallas, Fort Worth and beyond. All projects listed are public records.
Source: DallasBizNews - 🏆 525. / 51 Read more »