Taylor Morrison sold for $955M

Taylor Morrison, the U.S. homebuilding subsidiary of U.K.-based Taylor Wimpey plc, was sold to a group of private investors for $955 million. According to Metrostudy, the Scottsdale, Az.-based company had the third-highest closing volume among Gulf Coast developers in 2010.

Regarding the company's sale, Taylor Morrison West Florida division president Steve Kempton said, “We continue to believe the housing market on the west coast of Florida will recover in the midterm, and we believe this announcement will allow us to continue to be a part of that recovery.”

TPG Capital, Oaktree Capital Management, and JH Investments manage the investment funds that are acquiring Taylor Morrison in the deal.