Colorado's Century Communities buys 50% stake in North Carolina homebuilder

DENVER BUSINESS JOURNAL - 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

Copyright 2016 Denver Business Journal


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