This Week in Atlanta Real Estate: CalAtlantic acquires Atlanta-based homebuilders

by Rincey Abraham

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CalAtlantic Homes announced the acquisition of Atlanta-based Home South Communities, which is one of the largest privately held homebuilders in the metro area. Through the deal, CalAtlantic, which is one of the country’s largest homebuilders, now owns an additional 970 homes across 17 communities, seven of which are actively selling. As part of the acquisition, CalAtlantic extended employment offers to the employees of Home South Communities who were part of the homebuilding business, according to a press release from the company. Earlier this year, Lennar and CalAtlantic announced a $5.7 billion merger to create the largest homebuilder in the United States.

In other Atlanta real estate news:

  • Post Centennial Park apartments are closer to completion, as construction is finishing up on the northern building, which features courtyard for residents and a gym facing Centennial Olympic Park Drive. When completed, the complex will have more than 400 apartments ranging from just under 500 square feet to 1,350 square feet, according to Curbed Atlanta.
  • Gilbrane Building Company held a topping-out ceremony of its 1000 Park Avenue project in Buckhead, which marks the third and final phase of development for Gilbrane’s projects in the city, according to a company press release. The 27-story residential tower features 267 luxury units that include a mix of one-, two- and three-bedroom options. It also has a three-story parking deck, a private motor court for guests and residential access, private outdoor terrace and pool deck, and a sky lounge with a covered outdoor terrace overlooking downtown.
  • A new apartment development will bring more than 320 residences and street-front retail to Buckhead Village. Gables Buckhead is expected to open next fall with two 14-story towers that are situated around a fifth-floor courtyard that has a pool, dog park, grills and movie wall, according to Curbed Atlanta.