Irvine, CA, August 24-- Standard Pacific Corp. has completed its acquisition of the homebuilding operations of Kemmerly Homes. Kemmerly Homes has operated in the Tucson, Arizona market since 1993 under both the Kemmerly Homes and Miramonte Homes brands.
As of July 31, 2004, Kemmerly Homes owned or controlled approximately 1,100 buildable lots. For the full year ending December 31, 2004, Kemmerly Homes expects to deliver approximately 180 homes with revenues of $47.5 million.
Kathy Wade, Standard Pacific's Southwest regional president, said, "This acquisition will compliment our existing presence in the State of Arizona where we expect to generate approximately 1,700 deliveries in metropolitan Phoenix in 2004 with revenues of $310 million, out of 20 ongoing projects."
Standard Pacific, one of the nation's largest homebuilders, has built homes for more than 65,000 families during its 38-year history.
The company has operations in major metropolitan areas in California, Texas, Arizona, Colorado, Florida and the Carolinas.
