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March 13, 1998 | Jesus Sanchez
Los Angeles-based Kaufman & Broad Home Corp. has agreed to buy Estes Homebuilding Co. for $47 million. The acquisition would mark the third time Kaufman has purchased a home builder in recent weeks, as the firm seeks to build up its share of sales in major Western markets. Tucson-based Estes is expected to produce 850 homes in Tucson and Phoenix this year and generate $100 million in revenue, Kaufman said. Family-operated Estes owns and controls 2,600 building lots in the two Arizona cities.
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BUSINESS
March 13, 1998 | Jesus Sanchez
Los Angeles-based Kaufman & Broad Home Corp. has agreed to buy Estes Homebuilding Co. for $47 million. The acquisition would mark the third time Kaufman has purchased a home builder in recent weeks, as the firm seeks to build up its share of sales in major Western markets. Tucson-based Estes is expected to produce 850 homes in Tucson and Phoenix this year and generate $100 million in revenue, Kaufman said. Family-operated Estes owns and controls 2,600 building lots in the two Arizona cities.
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BUSINESS
April 9, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
The reshaping of Southern California's home-building industry intensified Wednesday with two huge deals involving some of the region's best-known residential companies. In one transaction, Orange County's largest home builder will merge with a company spun off from the empire of Ray Watt, a prominent Santa Monica developer who has built more than 100,000 homes since 1947.
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