11:31 AM EDT, 04/02/2024 (MT Newswires) -- Landsea Homes ( LSEA ) said Tuesday it has completed the previously announced acquisition of Antares Homes for about $242.5 million in cash, including the repayment of $43.2 million in Antares debt.

With the completion of the transaction, Landsea said the majority of Antares Homes' employees are expected to join the Landsea Homes ( LSEA ) team.

The acquisition expands Landsea's market reach to 13 locations, including the Dallas-Fort Worth area, where Antares is developing 19 communities, according to Landsea.

Shares of Landsea Homes ( LSEA ) were down 6% in recent Tuesday trading.

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