Dream Finders Homes Acquires Century Homes Florida, LLC

Feb 01, 2021

ORLANDO, Fla., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Dream Finders Holdings LLC, a subsidiary of Dream Finders Homes, Inc. (NASDAQ: DFH), has closed, effective as of January 31, 2021, the acquisition of Orlando-based homebuilder Century Homes Florida, LLC from Tavistock Development Company. Recognized for superior craftmanship, ingenuity, and quality, Century Homes Florida currently operates in a variety of communities throughout Central Florida and has built more than 1,000 homes in the area.

The entire Century Homes Florida portfolio, including active Craft and Century Homes projects in Lake Nona’s Laureate Park, Oakley Place, Reserve at Pine Tree, Stonewood Estates Townhomes, and Wiregrass, along with their teams are part of the acquisition.

Included in the acquisition, Dream Finders Homes receives 134 homes under construction and 229 finished lots on which the Company expects to begin construction of homes during 2021 and 2022.  Dream Finders Homes also gains an additional 490 lots in future inventory. Additionally, Dream Finders Homes and Tavistock have agreed to future lot supply within Tavistock’s vast portfolio of communities for homes and purpose built, single family rental properties.

“We’re excited to welcome Century Homes Florida into the Dream Finders family,” said Dream Finders Homes’ CEO and Founder Patrick Zalupski. “The acquisition will allow us to expand our footprint and keep up with the growing demands of the Central Florida market. With a culture rooted in customer service and an unwavering dedication to excellence, we look forward to carrying on the Craft and Century Homes legacies while enabling the team to accelerate and reach new heights. We are constantly working to expand relationships with our associates, and with the Tavistock Group being a best-in-class organization, we believe this will create value for both Tavistock and Dream Finders Homes long term.”

“What began as an opportunity to innovate and test new ideas within the homebuilding industry has grown into a strong and successful business ready to take the next step,” said Tavistock Development Company Chief Operating Officer Craig Collin. “With Dream Finders, the company will have greater scale as part of a high growth platform in nearly one hundred communities in numerous markets throughout Florida and beyond. We want to extend a sincere thanks and appreciation to all of the employees who have worked tirelessly to build their customers a special new place to call home. We’ll continue to cheer on the entire Craft and Century Homes team as they begin this exciting new chapter. We also look forward to continuing to collaborate with Dream Finders to meet the needs of Central Florida’s growing population.”

About Dream Finders Homes, Inc.
Dream Finders Homes was founded by CEO, Patrick Zalupski, in 2008. Dream Finders Homes is based in Jacksonville, FL, and is one of the nation’s fastest growing homebuilding companies, with industry leading returns on shareholder’s equity. Dream Finders Homes closed over 3,150 homes in 2020, an increase of 54% over the homes closed in 2019. The Company increased new home sales over 95% in 2020 when compared 2019. Dream Finders Homes builds homes in Florida, Texas, North Carolina, South Carolina, Georgia, Colorado, Virginia and Maryland. Dream Finders Homes achieves its industry leading growth and returns by maintaining an asset light homebuilding model.

Forward-Looking Statements
This press release includes forward-looking statements regarding future events, including the timing of the beginning of construction of homes on 229 lots. All forward-looking statements are based on Dream Finders Homes’ beliefs as well as assumptions made by and information currently available to Dream Finders Homes. These statements reflect Dream Finders Homes’ current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in Dream Finders Homes’ Registration Statement on Form S-1 (Registration No. 333-251612) filed with the U.S. Securities and Exchange Commission. Dream Finders Homes undertakes no obligation to update or revise any forward-looking statement except as may be required by applicable law.

SOURCE Dream Finders Homes, Inc.
Investor and Analyst Contact: Rick Moyer, Chief Financial Officer (717) 343-3215; Anabel Fernandez, Treasurer (904) 910-7174
Media Contact: Rick Moyer, Chief Financial Officer (717) 343-3215; Anabel Fernandez, Treasurer (904) 910-7174; Robert Riva, General Counsel (904) 441-0829