Regional builder Scott Felder Homes has announced plans to enter the North Texas market by acquiring Olivia Clarke Homes.
Olivia Clarke, based in Plano, Texas, builds high-end production homes. The companies did not disclose the terms of the deal.
The acquisition is another consolidation in a homebuilding industry grappling with elevated mortgage rates and economic uncertainty that have hurt smaller players, analysts say. Earlier this month, Dream Finders Homes of Jacksonville, Florida, acquired Green River Builders of Monroe, Georgia, in a deal expected to strengthen Dream Finders' presence in Atlanta.
Scott Felder focuses on move-up home buyers in its headquarters market of Austin, Texas, as well as in New Braunfels and San Antonio, Texas. It also has operations in Denver through wholly owned McStain Neighborhoods.
Scott Felder sold 431 homes last year, ranking 112th among U.S homebuilders, according to Builder magazine.
Dallas-Fort Worth is the nation's third-fastest-growing metropolitan area in the country, adding nearly 178,000 residents from 2023 to 2024, according to the U.S. Census.
“This acquisition aligns perfectly with our long-term strategy,” Steve Krasoff, president and CEO of Scott Felder, said in a statement. "With the acquisition of Olivia Clarke Homes, we not only are gaining valuable expertise and talent, but we are also expanding our portfolio of residential communities to better serve our customers."
Jennifer Johnson founded Olivia Clarke in 2020. She will stay on during the transition, and the company will retain its name.
“Together, we will scale to meet the future needs of homebuyers across North Texas, while maintaining the quality and integrity of our brand,” she said in a statement.