Land Takes Primacy in Homebuilder M&A
While the majority of M&A targets are valued based on a projected stream of future cashflows, in homebuilder M&A, asset value – that is, land value – takes center stage. In the constant battle to control the most important raw material utilized in the production of a home, M&A is another tool utilized by large homebuilders to bolster their land positions and set the stage for future growth.
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The Return of the McMansion
