PulteGroup Sells Homebuilding Land in Colorado to Wheelock Street Capital
PulteGroup Inc., the largest U.S. homebuilder by revenue, sold a 1,700-acre master-planned community north of Denver to Wheelock Street Capital LLC.
The all-cash transaction is for the remaining developed lots and undeveloped land in the Anthem, Colorado, development, which is approved for about 1,500 homes, the Bloomfield Hills, Michigan-based company said in a statement today. PulteGroup didn’t disclose the transaction’s value.
PulteGroup won’t book a material loss or gain on the sale, according to the statement. Wheelock, a privately held real estate investment firm, has acquired more than 10,000 residential lots in master-planned communities in Texas, Florida and North Carolina during the past two years.
To contact the reporter on this story: Prashant Gopal in New York at pgopal2@bloomberg.net.
To contact the editor responsible for this story: Daniel Taub at dtaub@bloomberg.net.
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