$617M in homes: Hovnanian, GTIS back 907-home portfolio
GTIS Partners and Hovnanian Enterprises have closed a $200 million homebuilding joint venture, with GTIS contributing $150 million and Hovnanian $50 million. This partnership covers seven communities across five states, encompassing approximately 907 homes with an estimated value of $617 million, and builds on previous collaborations between the two companies. The joint venture aims to expand and diversify Hovnanian’s homebuilding portfolio, bringing the total home value of the GTIS-Hovnanian platform to $8 billion.
https://www.stocktitan.net/news/HOV/gtis-partners-and-hovnanian-enterprises-announce-closing-of-200-2b4rvv1tsd00.html