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Berkshire Hathaway division acquires local homebuilder, Highland Homes

Berkshire Hathaway division acquires local homebuilder, Highland Homes
Highland Homes was acquired on May 2 by Berkshire Hathway subsidiary, Clayton Properties Group. The Polk and Osceola county assets traded for approximately $40 million. (Handout)

Clayton Properties Group, a homebuilding division of Berkshire Hathaway, has acquired one of Polk County's most prolific private builders.

Highland Homes Vice President Joel Adams announced the acquisition last Friday, one day after dozens of Florida communities were transferred to the new parent company.

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"We are thrilled to join the Clayton Properties Group family of builders," Adams said. "The corporate cultures of Clayton and Highland Homes are well aligned; from our first interface with the leadership team at Clayton, we knew this was the right fit for us and the right thing to do for our team members. The partnership with Clayton opens up tremendous opportunity for our team members to continue our focus on building high-quality, affordable homes in Central Florida with a strong emphasis on customer experience and market growth."

Highland currently has 11 active communities in Polk County, of those six are in East Polk areas of Davenport, Haines City, Auburndale, Winter Haven and Lake Alfred. A total of 24 parcels transacted last week for a combined total of $31.47 million.

In addition, the company was developing two communities in Osceola County: Canopy Preserve (54 lots) and Gramercy Farms (198 lots). Those properties transacted on May 2 for a combined total of $8.56 million.

Highland sold over 800 homes in 2018. The company is ranked 75th on the 2018 Builder Magazine's Builder 100 list and is projected to build approximately 980 homes in 2019.

The Tennessee-based Clayton Properties has a long history as a producer of manufactured and modular housing, and in 2015 began to branch out into the site-built home construction sector with the acquisition of Atlanta-based Chafin Communities.

Highland Homes was Clayton's ninth builder acquisition and first in Florida.

"Highland Homes is a natural fit for our distinguished group of builders," said Clayton Home Building Group President Keith Holdbrooks. "Like Clayton, Highland has a tradition of excellence and an intense focus on providing world class team member and customer experience. We look forward to blending the synergies between Highland and our builders by focusing on innovation and enhancing the customer experience for our home buyers."

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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