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AV Homes completes acquisition of North Carolina-based homebuilder

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AV Homes completes acquisition of North Carolina-based homebuilder

AV Homes Inc. completed its acquisition of the homebuilding assets of North Carolina-based Savvy Homes.

AV Homes previously said that the roughly $50 million, all-cash acquisition would be funded using cash on hand and the company's revolving credit facility. The transaction was expected to close in the second quarter of 2017.