Najafi Companies has agreed to sell the Phoenix operations and assets of Trend Homes to Ryland Group, Inc. of Westlake Village, Calif. Terms of the deal have not been disclosed.
Najafi Companies acquired Gilbert-based Trend Homes in 2008, enabling the homebuilder to continue its operations throughout Greater Phoenix.
Reed Porter, CEO of Trend Homes, will serve as Ryland’s Phoenix Division President while all other Trend Homes employees are expected to join Ryland in conjunction with the acquisition.
“We are proud of the success Trend Homes has enjoyed under our stewardship and pleased that Ryland will be taking Trend Homes, its assets and employees to another level,” said Peter Woog, a partner with Najafi Companies. “We are confident this acquisition will ensure the continued success of Trend Homes.”
“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. Most importantly, we are thrilled to add an outstanding team of 30 homebuilding professionals, led by Reed Porter, to our team at Ryland,” said Larry Nicholson, Ryland’s CEO and President.
Scottsdale-based Land Advisors Organization provided advisory services to Najafi Companies on the Ryland Group acquisition of Trend Homes.