sitEX Properties Holding AG intensifies cooperation with largest American homebuilder
sitEX Properties Holding AG and its long-standing American partner, the Avalon Park Group, headquartered in Orlando, Florida, have signed several contracts with D. R. Horton Inc., the largest American homebuilder (NYSE: DRH), for the sale of single-family house lots.
The contracts have a total volume of USD 102 million and represent a milestone in the history of sitEX Properties Holding AG. The contracts comprise a total of 2,209 developed and undeveloped lots, spread over the metropolitan regions of Orlando and Tampa (Florida). This transaction has allowed the company to further diversify its fixed assets. The gains from the partial sale of the acquired lots will have a significant impact on the business results for the next three years. Further transactions are currently being negotiated as part of the close partnership with D. R. Horton Inc.
Oct. 31, 2019