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AV Homes to pay $42M for Texas homebuilder assets

AV Homes Inc. agreed to acquire the home building assets of privately held Oakdale Homes and Hampton Homes for roughly $42 million in cash.

The deal, set to close in January 2018, will see AV Homes make a foray into the Dallas-Fort Worth market in Texas.

Upon the deal's closing, the company expects to purchase about 1,000 primary residential lots that are either owned or controlled.

Oakdale Homes and Hampton Homes have more than 15 communities and expect to deliver more than 160 homes in 2017, according to a release.

Michael P. Kahn & Associates represented the seller in the deal.