JTW Advisors LLC served as the sell-side advisor to Level Homes in the sale of their Raleigh division to Lennar. As a result of the transaction, Lennar owns and/or controls an additional 1,602 homesites in the Raleigh market.
Level Homes is the 111th largest builder in America and is headquartered in Baton Rouge, LA. Level expanded into the Raleigh, NC market in 2013.
Level’s owners engaged JTW Advisors in 2018 to provide guidance in the evaluation of strategic alternatives related to Level’s Raleigh division. After investing the time to understand Level’s business and Level’s owners’ objectives, JTW and Level considered a number of alternatives and ultimately decided on a structured sale. Selling the Raleigh division allows Level’s owners to monetize the value they created in the Raleigh division over the past seven years, and provides additional growth capital which can be deployed in Level’s existing markets.
Lennar is the largest public builder in the U.S. by market cap, and the largest builder in Raleigh with a 13% market share. The acquisition provides Lennar additional pipeline as it looks to grow its market-leading presence in Raleigh.
Chris Jasinski lead the transaction for JTW Advisors LLC. The transaction closed April 26, 2019.