Trendmaker Homes acquires DFW’s Dunhill Homes & Nathan Carlisle Homes
12/11/2018 TRI Pointe Group has acquired Dallas’ Dunhill Homes and its brand Nathan Carlisle Homes for $60 million.
Dunhill Homes and its affiliates build more than 300 houses a year in North Texas.
TRI Pointe Group already sells houses in the Houston area and Austin under the Trendmaker Homes brand. It plans to convert Dunhill and Nathan Carlisle Homes to Trendmaker, too.
“When researching entry into the Dallas-Fort Worth market, our goal was to identify a customer-driven, best-in-class local company with a strong leadership team with the same kind of values, mission and vision that defines TRI Pointe,” TRI chief executive Doug Bauer said in a statement. “Seeing a close alignment of culture and philosophy, it quickly became clear that company was Dunhill Homes.
“Our newest division will benefit from the financial resources, economies of scale, thought leadership and research and development capabilities of a national organization.”
Dunhill and Nathan Carlisle have built houses in North Texas aimed at entry-level, first move-up and 55-plus buyers.
Based in Irvine, Calif., TRI Pointe is one of the country’s 10 largest public homebuilding firms, with operations in Arizona, California, Nevada, Washington, Texas, Colorado and the Carolinas.
TRI Pointe sold almost 4,700 houses last year and had revenue of $2.8 billion.
The acquisition of Dunhill will allow the firm to expand its reach in Texas, said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies Inc. Dunhill owns or controls building lots to construct about 1,500 houses.
“If you are coming into this market, it’s very difficult to come in and grow organically because of the shortage of available lots,” Wilson said. “This is a great vehicle for them to grow here.
“They have acquired a company that is extremely well run and successful in almost every neighborhood they operate in. I would expect this Dunhill TRI Pointe company to grow with this new influx of capital.”
Dunhill and Nathan Carlisle sell houses priced from around $250,000 to more than a half-million dollars in about 20 neighborhoods across North Texas.
The D-FW area is the country’s largest single-family homebuilding market, with starts of nearly 36,000 houses in the last year.
“The Dallas-Fort Worth metro area is attractive in many ways, from its impressive business growth and employment opportunities to its strong housing affordability,” Rich Rodriguez, former president of Dunhill and the new division president of Trendmaker Homes Dallas-Fort Worth, said in a statement.
“With a population growth that is twice the national rate, business climate and its many other advantages, the Dallas-Fort Worth region presents a tremendous opportunity for TRI Pointe Group to bring its successful homebuilding formula to a fertile, high-growth residential market.”