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Hovnanian Enterprises Announces Entry Into Florida Market With the Acquisition of Windward Homes, the 5th Largest Homebuilder in Tampa.

Publication: PR Newswire
Publication Date: 06-NOV-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Hovnanian Enterprises, Inc. , a leading national homebuilder, announced today that is has acquired the assets of Windward Homes, headquartered in Tampa, Florida, for an undisclosed purchase price paid in cash and stock. The Company issued 244,618 shares of Hovnanian Class A common stock in conjunction with the transaction. The acquisition marks Hovnanian's entry into the Tampa marketplace and expands the Company's operations in the Southeastern United States. Windward Homes designs, constructs, markets and sells new homes for first-time and move-up homebuyers throughout the Tampa metropolitan area, with homes priced from $100,000 to over $400,000. Windward Homes is projected to deliver more than 700 homes with an average selling price of approximately $150,000 during its year ending December 31, 2003. As of August 31, 2003, Windward controlled more than...

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