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BUSINESS
October 6, 1992
Pacific Greystone Corp. in Burbank said it has completed the purchase of the California home-building operations of A-M Homes, an Orange County-based home builder. Pacific Greystone bought A-M's operations, which include 1,000 lots with homes in various stages of development, from A-M's founders and Jennings Group Ltd. of Australia. In return, Jennings will retain a minority equity stake in Pacific Greystone. No further details were disclosed about the transaction.
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BUSINESS
October 6, 1992
Pacific Greystone Corp. in Burbank said it has completed the purchase of the California home-building operations of A-M Homes, an Orange County-based home builder. Pacific Greystone bought A-M's operations, which include 1,000 lots with homes in various stages of development, from A-M's founders and Jennings Group Ltd. of Australia. In return, Jennings will retain a minority equity stake in Pacific Greystone. No further details were disclosed about the transaction.
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BUSINESS
September 10, 1992 | JOHN O'DELL, TIMES STAFF WRITER
A Burbank home-building company has agreed to buy luxury builder A-M Homes in a deal that industry sources say could be worth as little as $50 million. If that is the price--neither the seller nor the prospective buyer will comment--it would be a telling sign of the financial havoc the recession is wreaking in the development world: A-M, with sizable operations in Orange County, was worth nearly twice that just four years ago. A-M's majority owner, Jennings Group Ltd.
BUSINESS
November 3, 1992 | DON LEE, TIMES STAFF WRITER
Amid California's depressed real estate market that has hammered homeowners and financial institutions, a new home builder based in Burbank has gone on a buying spree, hoping to cash in if the state's housing market rebounds. Pacific Greystone has been buying lots up and down the state ever since it was formed a year ago with $85 million from the well-known Wall Street investment firm Warburg, Pincus.
BUSINESS
September 10, 1992 | JOHN O'DELL, TIMES STAFF WRITER
A Burbank home-building company has agreed to buy luxury builder A-M Homes in a deal that industry sources say could be worth as little as $50 million. If that is the price--neither the seller nor the prospective buyer will comment--it would be a telling sign of the financial havoc the recession is wreaking in the development world: A-M, with sizable operations in Orange County, was worth nearly twice that just four years ago. A-M's majority owner, Jennings Group Ltd.
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