LYNNWOOD — Sundquist Homes, a long-time builder based in Lynnwood, has been acquired by a publicly traded company in Colorado in a deal announced on Wednesday.
Century Communities, which bills itself as one of the top 20 home builders in the nation, was seeking to expand its presence in the Puget Sound area.
“Sundquist Homes has built a respected local brand and reputation founded on excellence and integrity,” said Dale Francescon, co-CEO for Century Communities, in a statement. “We are proud to welcome them to the Century team.”
Larry Sundquist, who founded Sundquist Homes in 1974, will remain with Century Communities. Sundquist’s website has already been switched over to the Century Communities site.
“I am truly excited to become a part of the Century team,” Sundquist said in the statement. “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.”
Terms of the deal were not released.
Century Communities had already entered the Puget Sound area market earlier this year by merging with UCP, a San Jose-based home builder and land developer that had operations in several states including in Washington.
With this deal, Century Communities acquires all of the homes and lots that Sundquist owns in the greater Seattle area. Sundquist builds single-family homes with sales prices ranging from about $600,000 to $1.1 million. The home sizes range from 2,200 to 3,700 square feet.
Century Communities, which is traded under the ticker symbol CCS on the New York Stock Exchange, was founded in 2002 and now operates in nine states, according to its website.
Jim Davis: 425-339-3097; jdavis@heraldnet.com; @HBJnews.
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