Bloomberg News

PulteGroup Sells Colorado Land to Wheelock Street Capital

December 30, 2011

Dec. 29 (Bloomberg) -- PulteGroup Inc., the largest U.S. homebuilder by revenue, sold a 1,700-acre master-planned community north of Denver to Wheelock Street Capital LLC.

The all-cash transaction is for the remaining developed lots and undeveloped land in the Anthem, Colorado, development, which is approved for about 1,500 homes, the Bloomfield Hills, Michigan-based company said in a statement today. PulteGroup didn’t disclose the transaction’s value.

PulteGroup won’t book a material loss or gain on the sale, according to the statement. Wheelock, a privately held real estate investment firm, has acquired more than 10,000 residential lots in master-planned communities in Texas, Florida and North Carolina during the past two years.

--Editors: Andrew Blackman, Christine Maurus.

To contact the reporter on this story: Prashant Gopal in New York at pgopal2@bloomberg.net.

To contact the editor responsible for this story: Daniel Taub at dtaub@bloomberg.net.


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