Sunday, July 7, 2013

AV Homes attracts $135 million in capital

Another Arizona homebuilder has attracted the attention of billion-dollar investment firm TPG Capital.

Scottsdale-based AV Homes has landed a $135 million investment from the group, formerly known as Texas Pacific Group.

The international private-equity firm, started by David Bonderman and James Coulter, will own almost 42 percent of AV after the deal is completed.

TPG owns a significant stake in Scottsdale-based Taylor-Morrison Homes Corp., which raised more $526 million in an April initial public offering.

Read more: AV Homes attracts $135 million in capital

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