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Slide #85. NVR, Inc. — Heartland Homes, Inc.
NVR, Inc. (NYSE:NVR)
Heartland Homes, Inc.
NVR, Inc. today announced that on December 31, 2012, NVR completed the acquisition of substantially all of the assets of Heartland Homes, Inc., the second largest homebuilder in Pittsburgh, Pennsylvania.
NVR is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are constructed on a pre-sold basis. Co. conducts its homebuilding activities directly. Co.'s homebuilding operations construct and sell single-family detached homes, townhomes and condominium buildings under three trade names: Ryan Homes, which is marketed primarily to first-time and first-time move-up buyers; and NVHomes and Heartland Homes, which are marketed primarily to move-up and luxury buyers. Co.'s mortgage banking operations also include separate subsidiaries that broker title insurance and perform title searches in connection with mortgage loan closings.
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