- Terms of the deal were not disclosed.
February 2026
Terms of the deal were not disclosed.
Served as Financial Advisor to Agent Advice on its Sale
Terms of the deal were not disclosed.
September 2025
$350mm Acquisition of
Served as Financial Advisor to Toll Brothers
- Highlights the continued trend towards asset-light operating models for homebuilders
- Added over $5bn of assets to Kennedy Wilson’s AUM and established a strategic partnership with Toll Brothers on for-sale and rental housing opportunities
- Vestra served as a Financial Advisor to Toll Brothers
$350mm Acquisition of
- Improves Toll’s return on equity and streamlines focus on luxury single-family homebuilding
- The transaction adds over $5bn of assets under Kennedy Wilson management
– $2.2bn of AUM in 18 apartment and student housing properties that Kennedy Wilson will acquire as part of the transaction
– $3.0bn of AUM in 20 apartment and student housing properties that Kennedy Wilson will manage on behalf of Toll Brothers - Kennedy Wilson acquired a pipeline of 29 development sites worth ~$3.6bn if completed, expanding its in-house development capabilities to facilitate further growth
- Vestra served as a Financial Advisor to Toll Brothers
February 2026
$221mm Acquisition by
Served as Exclusive Financial Advisor to UHG
- Demonstrates ongoing M&A activity by Japanese-owned homebuilders
- Expands Stanley Martin’s entry-level platform in the Carolinas
- Vestra Advisors served as exclusive financial advisor to the Mergers & Acquisitions Committee (the “Special Committee”) of the Board of United Homes
$221mm Acquisition by
- The transaction materially enhanced Stanley Martin Homes’ scale in South Carolina, adding United Homes’ presence across Greenville, Spartanburg, Clemson, Columbia, Myrtle Beach, and Augusta, Georgia
- Provided Stanley Martin Homes with immediate volume, operating scale and deeper exposure to attractive entry-level and first-time move-up buyer segments
- The acquisition strengthened Stanley Martin Homes’ attainable housing platform by combining two complementary builders focused on affordability and high-growth Southeastern markets
- Vestra Advisors served as exclusive financial advisor to the Mergers & Acquisitions Committee (the “Special Committee”) of the Board of United Homes
May 2025
$1.2bn Acquisition of
Financial Advisor to New Home Company
- Spotlights the increasing focus of private equity on the homebuilding sector, including financing support from Millrose Properties
- Elevates privately held New Home to a top 25 national homebuilder position with targeted focus on 10 high-growth markets
- Vestra supported New Home, and its Private Equity Sponsor Apollo, through negotiations, deal structuring and due diligence
$1.2bn Acquisition of
- On May 12, 2025 New Home announced an agreement to acquire Landsea Homes for $11.30 per share in an all-cash transaction, representing an enterprise value for Landsea Homes of approximately $1.2bn
- The purchase price reflects a premium of approximately 61% to Landsea Homes’ closing share price on May 12, 2025
- The deal combines two builders with complementary and diversified geographic footprints across high-growth markets, creating a top 25 national homebuilder
- New Home is supported by Apollo Global Management, which is committing $650mm of new equity to support the transaction. There is also committed land banking capital from Millrose Properties to facilitate the deal
May 2025
Proxy Contest Defense Against
Financial Advisor to Tejon Ranch Co.
- Vestra advised the Board of Directors on strategies to defend shareholders from activist Bulldog Investors
- Played a critical role in communication with shareholder services firms and shareholders leading up to the 2025 Annual Meeting of shareholders in May
- Tejon Ranch received support from ISS and Glass Lewis on the Company’s Board nominees and current strategies, resulting in a successful outcome
Proxy Contest Defense Against
- In March 2025, Bulldog Investors targeted Tejon Ranch Co. (“TRC”) with an activist campaign, nominating three board members and aiming to reduce spending on the Company’s Master-Planned Communities
- Vestra advised Company Management and the Board in methodically deconstructing and dispelling Bulldog’s claims through a data driven, results oriented approach
- Vestra advised TRC on communicating the Company’s long-term strategy, risks and weaknesses associated with Bulldog’s proposals, and overall investor communication strategy
April 2025
Acquisition of Assets from
Exclusive Financial Advisor to Willow Branch Homes
- Highlights the continued appetite for M&A involving high quality land assets
- Expands Meritage’s footprint in several high growth submarkets within the Nasvhille MSA
- Vestra served as exclusive financial advisor to Willow Branch Homes
Acquisition of Assets from
- As part of the transaction, Meritage acquired ~2,500 lots from Willow Branch Homes in several high-growth submarkets within the Nashville MSA. Willow Branch will retain its existing production and custom homebuilding operations
- Founded in 2008 by Henry (“Bucky”) Ingram Jr., Willow Branch is a leading private builder in Middle Tennessee, with a footprint across Smyrna, Spring Hill, Columbia, Thompson Station, Murfreesboro and Nashville (Metro)
- The transaction significantly increases Meritage’s footprint within Tennessee, which it entered through the acquisition of Philips Builders in 2013
- Vestra served as exclusive financial advisor to Willow Branch, supporting the company through buyer outreach, negotiations, deal structuring and due diligence
February 2025
$6bn Spin Off of
- Creates first-of-its kind publicly listed land banking REIT
- Provides an industry solution for land acquisition and development, structured to attract public and institutional capital
- Vestra served as Financial Advisor to Lennar
$6bn Spin Off of
- On February 7th, Lennar completed the spin-off of Millrose Properties, the first publicly listed land banking REIT
- Millrose will acquire land, fund development, and sell finished lots to Lennar and other homebuilders via option contracts with fixed costs and schedules
- Proceeds from finished homesite sales will be reinvested into new transactions, creating a permanent capital vehicle for land banking:
- Millrose has been capitalized with >$5B in land assets and ~$1B in cash from Lennar
- Concurrently with the spin-off, Millrose has acquired ~$900M in land assets as part of Lennar’s acquisition of Rausch Coleman
- Millrose is expected to generate consistent, steady income from monthly option fees, providing predictable cash flow and investor distributions
- Millrose will be externally managed by Kennedy Lewis, a leading alternative investment firm with >$18B in AUM and a pioneer in residential land banking
- Vestra served as financial advisor to Lennar, assisting in the conceptualization of the company and REIT structure, and in the creation of marketing documents to support investor education
February 2025
$384mm Initial Public Offering
Capital Markets Advisor to Titan Cement International
- Critical transaction to enhance strategic flexibility for Titan Cement International’s U.S. subsidiary, Titan America
- Provides capital, standalone balance sheet capacity and a new domestic currency to fund growth
- Vestra provided advice to Titan Cement International’s Board of Directors throughout the IPO process
$384mm Initial Public Offering
- On February 6, 2025, Titan America, U.S. subsidiary of Titan Cement International SA (“TCI”), announced the successful pricing of its $384mm IPO at $16.00 per share
- Critical transaction providing capital, standalone balance sheet capacity and a new domestic currency to enhance strategic flexibility
- Improves ability to support internal growth and efficiency initiatives as well as capacity to execute on attractive M&A opportunities
- Preserves relationship with parent company and supply of imported product critical to meeting demand in key markets (Florida and the Mid-Atlantic)
- Latest iteration of broader sector trend to illuminate value of U.S. assets and bridge valuation gap relative to international platforms
- Vestra provided advice to Titan Cement International’s Board of Directors throughout the IPO process
November 2024
Acquisition of
Financial advisor to Rausch Coleman Homes
- Transaction highlights the continued consolidation trends experienced in the homebuilding sector
- Expands Lennar’s footprint into new markets including Arkansas, Oklahoma, Kansas and Missouri while adding to its existing footprint in Texas, Oklahoma, Alabama and Florida
- Vestra supported Rausch Coleman through negotiations, deal structuring and due diligence
Acquisition of
- On November 19, Lennar Corporation (NYSE: LEN and LEN.B) announced that it has entered into a definitive agreement to acquire Rausch Coleman Homes
- Rausch Coleman is a leading regional homebuilder with a market leading presence in Arkansas, Oklahoma, and Alabama with a growing footprint in Texas, Kansas / Missouri and Florida
- Lennar will acquire Rausch Coleman’s homebuilding operations, which expects to deliver approximately 5,000 homes with an average sales price of $230,000 in calendar year 2024
- In connection with Lennar’s land light strategy, Lennar intends to assign the purchase of, and option, all of Rausch Coleman’s land assets with a third party
- Vestra supported Rausch Coleman through negotiations, deal structuring and due diligence process
November 2024
Acquisition of
Sole financial advisor to Littlejohn
- Transaction highlights the significant secular conversion opportunity for off-site construction across end markets, with a clear value proposition to customers
- Proof of concept that off-site manufacturing is viable at scale, and can produce highly attractive financial metrics
- Vestra provided services related to the validation of Littlejohn’s investment thesis for modular, and detailed transaction-related due diligence and valuation
Acquisition of
- On November 4, 2024 Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced that it has acquired Sunbelt Modular, Inc., a leading designer and manufacturer of modular solutions
- Founded over 45 years ago, Sunbelt provides a robust suite of highly engineered structures for both custom and fleet applications serving a diverse set of commercial end markets
- Sunbelt differentiates itself through its in-house technical expertise, comprehensive product offering, and national footprint, which positions it as a highly valued partner to their long tenured customer base
- The investment was supported by Littlejohn’s investment thesis that modular construction provides a superior value proposition, underpinned by accelerated construction timelines, higher quality control, reduced waste and energy consumption, and improved worker safety, which will drive adoption across a variety of end markets
- Vestra conducted detailed due diligence, market analysis, competitive positioning and valuation to support Littlejohn’s investment