Tuesday, December 11, 2012

Ryland buying Trend Homes

Gilbert-based Trend Homes, one of metro Phoenix's largest homebuilders, is being purchased by Ryland Group Inc. The deal is another sign the region's homebuilding market is recovering.

Phoenix-based investment firm Najafi Cos. is selling Trend Homes after buying the builder in 2008 for $85 million. Trend Homes then was operating under bankruptcy protection. The terms of the sale to Ryland haven't yet been disclosed.

The purchase of Trend Homes marks Ryland's re-entry into the Valley's housing market. The Westlake Village, Calif.-based homebuilder sold all its assets and closed its offices in the state a few years ago amid the housing crash.

Read more: Ryland buying Trend Homes

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