PulteGroup, Inc has completed the acquistion of the homebuilding assets of John Wieland Homes and Neighborhoods from affiliates of Wheelock Street Capital and the Wieland family. As part of the transaction, PulteGroup acquired approximately 7,400 controlled lots and 280 homes in backlog.
Headquartered in Atlanta, Wieland ranks among the country's 100 largest homebuilders and is a leading builder of luxury homes in Atlanta, Charleston, Charlotte, Nashville and Raleigh. In the 12 months ended September 2015, Wieland delivered approximately 565 homes at an average selling price of $495,000 and generated $280 million in revenue.
"Having worked for Pulte earlier in my career, I have a strong appreciation for the proud history, reputation for quality and dedicated professionals in each organization," said Gregory Huff, Chief Executive Officer of John Wieland Homes. "We look forward to joining a national homebuilder where we share the same beliefs with regard to delivering superior product quality and outstanding service to our customers."
Wheelock acquired John Wieland Homes and Neighborhoods in November 2012.