Landsea Homes Adds Phoenix Entry-Level Outlier Pinnacle West As It Expands U.S. Footprint
China-based parent–Landsea Green Group–plans further, ‘thoughtful’ North American growth ahead.
Looking to strengthen its odds of building clout in Phoenix, the nation’s fastest-growing-city, Landsea Homes–the U.S. operator of Nanjing, China-based Landsea Green Group Company, Ltd.–has acquired Pinnacle West Homes, a below-the-radar player that would catapult Landsea into the market’s top 25 rankings within a year.
While considerable focus has drawn to three Japan-based enterprises–Daiwa House, Sekisui House, and Sumitomo North American Forestry–who’ve moved aggressively into the U.S. through a series of a dozen or so private home building operator acquisitions in the past five years, Landsea has methodically been expanding its American beachhead as well.
The Pinnacle West Homes acquisition–a quantum leap growth spurt from de nova operations Landsea established in Phoenix in 2018, comes at a moment in the housing cycle where opportunistic acquirers may find more willing sellers, especially if the latter may be looking for an exit plan in advance of a surge in late-cycle challenges thought to be coming sooner or later.