Berkshire-Hathaway owned Clayton Properties Group, a division of Clayton Home Building Group has acquired Arbor Homes, Indianapolis’ largest home builder.
Curtis Rector founded Arbor in 1994, focusing on entry-level homes. In 2004, the business founded a sister company, Silverthorne Homes, to construct higher-end projects. Together, the businesses have built more than 13,000 homes in 36 communities in the greater Indianapolis area, according to a news release.
“For 24 years we have been committed to providing quality homes at great value, as well as providing growth opportunities for our team members,” Rector said in a statement. “Upon meeting the Clayton team, it was immediately apparent they shared similar values.”
“Curtis and the Arbor team’s culture, business model and dedication to provide an exceptional team member and customer experience, make a great addition to our distinguished family of builders,” said Clayton Home Building Group president Keith Holdbrooks. “We immediately recognized their level of expertise and commitment to building high-quality, affordable housing. With a current average home sales price of $199,000, Arbor Homes fits a niche price point between our off-site and on-site builders—we’re excited about the potential opportunities to shape the future of affordable housing.”
In 2017, Arbor closed on 998 homes, nearly a 15 percent increase from the previous year. The company is ranked 55 on the 2018 Builder Magazine’s Builder 100 list and is projected to close on approximately 1,200 homes in 2018.
“Joining Clayton gives us the platform to continue this journey on an even greater scale,” said Rector. “We are excited about this partnership and the future of Arbor and Silverthorne Homes.”
Arbor Homes is the seventh home builder acquisition for Clayton Properties Group, and the second this year. Clayton’s site built market reaches Alabama, Colorado, Georgia, Kansas, Missouri, Tennessee, Texas, Utah and now Indiana. Clayton Properties Group is ranked 29 on the 2018 Builder Magazine’s Builder 100 list. With the addition of Arbor Homes, Clayton Properties Group is on pace to build more than 4,000 site built homes this year.