CalAtlantic Homes, a homebuilder and a unit of CalAtlatic Group, said pre-market Tuesday it has begun homebuilding operations in Seattle, Washington, through its acquisition of the homebuilding operations of Seattle-based developer and homebuilder Oakpointe LLC. As a result of the deal, CalAtlantic now owns and controls over 1,750 homesites in 19 future communities, 7 of which are expected to be actively selling by February. In connection with the land acquisition, the company’s new Seattle division has offered employment to all of the employees of Oakpointe LLC who were engaged in Oakpointe’s homebuilding business.
The company did not acquire the land development operations of Oakpointe Communities, which will continue to be operated by longtime Seattle developer and Oakpointe Communities CEO Brian Ross. “Seattle’s booming economy and strong job market presents a tremendous growth opportunity for CalAtlantic Homes,” CalAtlantic Group CEO Larry Nicholson said in a statement.