Century Communities Inc. has bought a 50 percent stake in a North Carolina-based homebuilder, expanding the Colorado company’s footprint in the southeast states.
The Greenwood Village-based builder (NYSE: CCS) said late Tuesday that it invested a total of $18 million in Greensboro, North Carolina-based Wade Jurney Homes Inc. and Wade Jurney of Florida Inc. via a new entity, WJH LLC.
It said it acquired a half-stake in WJH for $15 million, with Wade G. Jurney Jr. — the North Carolina company’s president — retaining the other half. And both Century and Jurney each contributed an additional $3 million in capital to the new venture.
Wade Jurney sells single-family homes and townhomes targeting first-time buyers in 17 markets, mostly in North Carolina but also in South Carolina, Florida and Georgia.
Read more at the Denver Business Journal: http://bit.ly/2fhR4Cj