Taylor Morrison announced Wednesday the close of its sale to a partnership of investment funds for $955 million.
The transaction, first announced March 31, also includes Canadian homebuilder Monarch.
Taylor Morrison president and CEO Sheryl Palmer said the sale underscores the company’s position in North America as a leading homebuilder and offers opportunities for expansion when others in the industry are holding fast.
“We’ve shown that we can be a profitable, viable company during a difficult time,” she said. “This sale is a vote of confidence for the team and the way we do business and we’re looking forward to capitalizing on it.”
Taylor Morrison builds single-family residences and townhomes in Arizona, California, Colorado, Florida and Texas, while Monarch builds both high- and low-rise product in Toronto and Ottawa. A third division, Taylor Morrison Communities, focuses solely on land acquisition and development.