The Ryland Group, Inc. (NYSE: RYL) today announces that it has acquired the Phoenix operations and assets of Trend Homes. The Trend acquisition provides Ryland with an ongoing successful operation in Phoenix and approximately 910 additional lots and homes for future sales, as well as 106 homes currently sold and under construction for delivery. Trend Homes currently operates in seven active communities. All of Trend’s employees are expected to join Ryland in conjunction with the acquisition and Reed Porter, Trend’s President, will be Ryland’s Phoenix Division President.
“We are pleased to announce the acquisition of Trend Homes which is consistent with our strategy of expanding into new markets that present opportunities for growth. We are excited about the current and future land positions we have acquired as a result of the purchase of Trend,” said Larry Nicholson, Ryland’s CEO and President.
The controlling ownership interests in Trend were sold to Ryland by Najafi Investments. Jahm Najafi, CEO of Najafi Investments, stated that, “We are proud of the success Trend Homes has enjoyed under our stewardship and are confident this acquisition will ensure the continuation of that success.”
The purchase of Trend Homes is Ryland’s second acquisition in the last five months following its purchase of the assets of Timberstone Homes in Charlotte and Raleigh in July of this year.
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
For more information, please contact Drew Mackintosh, Vice President of Investor Relations and Communication at
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