February 13, 1988 |
Newport Beach home builder J. M. Peters Co. will be sold for the second time in less than three years, this time to MDC Holdings Inc. of Denver. MDC is paying $100 million in "first mortgage receivables" for Peters, almost five times the $21 million that Dallas-based Southmark paid to acquire the firm in 1985.
September 19, 1987
J.M. Peters Co. Inc., a major Southern California home building firm based in Newport Beach, Friday said it was starting its previously announced initial public offering to raise $10.5 million. Peters is selling 12.7% of its common stock--or 1.75 million shares--at $6 per share, giving the company a market value of almost $83 million. Southmark Corp., a Dallas-based real estate and financial services firm, bought J.M. Peters last year for about $22 million and will retain 87.