Arlington-based homebuilding giant D.R. Horton Inc. is boosting its presence in Arkansas, buying a large builder in the state.
Arlington-based homebuilding giant D.R. Horton Inc. is boosting its presence in Arkansas.
The company expects to pay about $107 million in cash and plans to combine Riggins’ operations with its existing business in Northwest Arkansas. The deal will include about 3,000 lots, 170 homes in inventory and 173 homes in Riggins’ sales order backlog. In the 12 months up to Nov. 30, Riggins closed 153 homes totaling $48 million in revenue, according to D.R. Horton. They had an average size of about 1,925 square feet and an average sale price of just over $313,600.according to its website.
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