NEWPORT BEACH, Calif.--(BUSINESS WIRE)--William Lyon Homes (the “Company” or “William Lyon Homes”) (NYSE: WLH), a leading homebuilder in the Western U.S., today announced that it has successfully completed the previously announced acquisition of RSI Communities, a Southern California- and Texas-based homebuilder, and three additional related real estate assets (the “RSI Acquisition”). The closing of the RSI Acquisition enhances the Company’s position in the Inland Empire of California and marks the Company’s entry into Texas with immediate size and scale in Austin as a foothold in Texas, as well as projects in San Antonio.
Matthew R. Zaist, President and Chief Executive Officer of William Lyon Homes, commented, “We are pleased to close the RSI Acquisition today and strengthen our Southern California presence and expand our operations into Texas, which we believe will drive meaningful benefits from our increased operating scale and geographic footprint. As we have previously discussed, we are extremely excited to welcome the RSI team into the William Lyon Homes family, and look forward to working with them to continue providing our customers with a superior product and exceptional services, while driving strong returns to our shareholders.”
About William Lyon Homes
William Lyon Homes is one of the largest Western U.S. regional homebuilders. Headquartered in Newport Beach, California, the Company is primarily engaged in the design, construction, marketing and sale of single-family detached and attached homes in California, Arizona, Nevada, Colorado, Washington and Oregon, and, with the consummation of the RSI Acquisition, Texas. Its core markets include Orange County, Los Angeles, the Inland Empire, the San Francisco Bay Area, Phoenix, Las Vegas, Denver, Portland, Seattle and, with the consummation of the RSI Acquisition, Austin and San Antonio. The Company has a distinguished legacy of more than 60 years of homebuilding operations, over which time it has sold in excess of 102,000 homes (not including the RSI Acquisition). The Company markets and sells its homes under the William Lyon Homes brand in all of its markets except for Washington and Oregon, where the Company operates under the Polygon Northwest brand.
Certain statements contained in this release and the accompanying comments during our conference call that are not historical information may constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995, including, but not limited to, forward-looking statements related to: the anticipated benefits to be realized from the RSI Acquisition; market and industry trends; anticipated operating results and financial performance; market expansion; branding and marketing names; and personnel roles and responsibilities. The forward-looking statements involve risks and uncertainties and actual results may differ materially from those projected or implied. The Company makes no commitment, and disclaims any duty, to update or revise any forward-looking statements to reflect future events or changes in these expectations. Further, certain forward-looking statements are based on assumptions of future events which may not prove to be accurate. Additional information concerning factors that could cause actual results to differ materially is contained from time to time in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, the Company’s annual report on Form 10-K for the year ended December 31, 2017.