CHARLOTTE, N.C.--(BUSINESS WIRE)--The Ryland Group, Inc. today announced that it has completed the acquisition of the Charlotte and Raleigh operations and assets of Timberstone Homes.
The Timberstone acquisition provides Ryland with approximately 945 additional lots and homes for future sales, 141 homes currently sold and under construction for delivery, and 19 professionally decorated model homes.
Existing Timberstone customers will have their customer service and warranty obligations addressed by Ryland under a contractual relationship between Ryland and Timberstone.
Headquartered in Southern California, Ryland is one of the nation’s largest homebuilders and a leading mortgage-finance company. Since its founding in 1967, Ryland has built more than 295,000 homes and financed more than 245,000 mortgages. The company currently operates in 13 states across the country and is listed on the New York Stock Exchange under the symbol “RYL”. For more information, please visit www.ryland.com.
For more information, please contact Drew Mackintosh, Vice President of Investor Relations and Communication at Drew.Mackintosh@ryland.com.