Ryland Group acquires West Fla. homebuilder

Maryland Watch

November 03, 1998

The Ryland Group, the Columbia-based homebuilder, has fortified its position in the Tampa Bay, Fla., market by acquiring Regency Communities.

The sale gives Ryland a presence in three counties north of Tampa Bay and a stronger presence in the Florida retirement market.

`With the merger of our two organizations, the division will be one of Ryland's largest operations and, more importantly, one of the largest homebuilders in West Florida," said Bill Wright, division president of Ryland's West Florida operation.

Regency's homebuilding operations consist primarily of traditional single-family and age-restricted retirement communities, with home prices starting at $90,000. The company targets middle-income retirees, as well as entry-level and first-time move-up buyers.

Regency Communities is not related to Regency Homes Corp., a private homebuilder in Maryland that filed for Chapter 7 bankruptcy in July.

Ryland, the second-largest builder in the Baltimore metropolitan market with 27 active projects, operates in 11 communities throughout West Florida and as far south as Sarasota.

Pub Date: 11/03/98

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