McKinley Homes has expanded its portfolio with the acquisition of Liberty Home Builders Houston, a deal that adds six residential subdivisions to the company’s growing presence in Texas.
Homes in the subdivisions sell for under $400,000 and will now operate under McKinley Homes Houston, the Atlanta Business Chronicle reported.
The subdivisions include Barton Place in Cleveland, Texas, Encino Estates in Dayton, Texas, King Mills in Kingwood, Anderson Lake in Southwest Houston, and Stone Creek Ranch in Hockley, according to Liberty’s website. Zelman, a subsidiary of Walker & Dunlop, served as the exclusive sell-side financial advisor to Liberty Home Builders.
The financial details of the purchase weren’t disclosed. A Liberty Homes division in San Antonio wasn’t part of the deal.
McKinley Homes Houston Division corporate offices will be located at the former Liberty Home Builders office at 2821 Jordens Road.
Damon Sachs, the former president of Liberty Home Builders Houston, will take on the role of president of McKinley Homes Houston. Johnny Sullivan and Dennis Ulanday, who have also been with Liberty, will serve as vice presidents of construction and sales, respectively.
The move marks a significant expansion for McKinley Homes, which manages a portfolio of 6,000 lots across five states, including single-family homes, townhouses, multifamily high-rises and office buildings.
The acquisition not only strengthens McKinley’s foothold in one of the nation’s fastest-growing markets but also brings experienced local leadership to the forefront, according to Jinsong Yang, managing member of McKinley Homes.
The company is searching for opportunities to buy land and communities, Yang said.
Houston’s housing market ranked second in Texas for new home sales this year, with 32,791, according to Zonda. The multifamily sector is also growing, with 21,500 units expected to be completed this year, the highest number since 2017.
— Andrew Terrell
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