Dream Finders Homes Inc. announced an acquisition Feb. 2 that will expand the Jacksonville-based homebuilder into the Charleston and Greenville, South Carolina, and Nashville, Tennessee, markets.
Dream Finders said it acquired the core assets of privately held homebuilder Crescent Ventures LLC.
The company did not announce terms of the deal but said the assets include a sales order backlog of about 460 homes valued at more than $265 million and 6,200 lots under control.
“Our access to capital and efficient operations will enable Crescent to grow faster and achieve significant scale in each market. This transaction enhances our geographic reach and strategically diversifies our operations into three new metropolitan areas,” Dream Finders CEO Patrick Zalupski said in a news release.
Dream Finders already builds homes in Florida, Texas, North Carolina, South Carolina, Georgia, Colorado and the Washington, D.C., area.
Its South Carolina markets, before the acquisition, were Myrtle Beach, Hilton Head and Bluffton.
Charleston-based Crescent Ventures, which operates as Crescent Homes, has 25 active selling communities with single-family homes starting in the low-$300,000s.
Dream Finders closed on the sale of 5,161 homes in the first nine months of 2023 and produced revenue of $2.6 billion.