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Century Communities Expands Presence in Seattle, Washington with Acquisition of Sundquist Homes

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Century Communities, Inc. (NYSE:CCS) (the “Company”), a leading homebuilder in select U.S. markets, today announced the acquisition of substantially all the assets of Sundquist Homes (“Sundquist”), a single family homebuilder in the Seattle, Washington market, where it has been operating for over 40 years. The strategic acquisition expands the Company’s presence in this growing West Coast market and aligns well with the Company’s objective to grow its operations in attractive markets with strong economic fundamentals. The Company initially entered the vibrant Seattle market through its merger with UCP, Inc. in August 2017.

Sundquist’s business is focused on building single family homes with sales prices generally ranging from approximately $600,000 to $1.1 million and with home sizes ranging from 2,200 to 3,700 square feet. As part of the transaction, Century Communities acquired homes, owned lots and controlled lots in highly desirable submarkets of the greater Seattle area. The combination of Century Communities and Sundquist creates a top-10 homebuilder in the Seattle market, which features a combination of record low inventory and high price appreciation. Larry Sundquist, founder and CEO of Sundquist Homes, will remain with Century Communities.

Dale Francescon, Co-Chief Executive Officer of the Company, stated, “We are very excited to complete this complementary and accretive acquisition, which represents a significant expansion in one of the strongest housing markets in the United States. Sundquist Homes has built a respected local brand and reputation founded on excellence and integrity. We are proud to welcome them to the Century team.”

Rob Francescon, Co-Chief Executive Officer of the Company, stated, “Sundquist is an excellent addition to the Century portfolio. The acquisition brings deep local relationships and a seasoned management team that has been successfully operating in the Seattle market since 1974. Additionally, this acquisition provides an opportunity to drive significant operating efficiencies for our existing Seattle platform and will be accretive to the local operation and the larger business in 2017 and beyond.”

Larry Sundquist commented, “I am truly excited to become a part of the Century team. Over the past 40 years, we have built a reputation in the Seattle area based on our legacy of excellence and integrity in the multitude of homes that we have sold. Century shares our dedication to delivering a quality home buying experience and provides a perfect fit for the next chapter of our growth.”

Sundquist Homes was represented by David Rosen of Long Grove Capital. Builder Advisor Group provided services to Century Communities.

About Century Communities

Century Communities, Inc. (NYSE: CCS) is one of the nation’s largest U.S. homebuilders, engaged in all aspects of homebuilding, including the acquisition, entitlement and development of land and the construction, marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Colorado-based Company operates in 10 states across the West, Mountain, Texas and Southeast Regions and offers title and lending services in select markets through its Parkway Title and Inspire Home Loan subsidiaries. To learn more about Century Communities please visit www.centurycommunities.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s Annual Report on Form 10-K for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.

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Century Communities, Inc.
Investor Relations:
303-268-8398
InvestorRelations@CenturyCommunities.com

Source: Century Communities, Inc.