- 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
- 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
