Silicon Valley Business Journal
From the article:
When San Jose-based homebuilder UCP acquired Citizens Homes of North Carolina last month, it marked a turning point for the 10-year-old company, which until now has been exclusively focused on the West Coast.
“With this acquisition, we become a national homebuilder,” founder and CEO Dustin Bogue said. “It puts us in five states.”
UCP is still small — its market cap of $113 million (as of mid-April) is one-twelfth that of Los Angeles-based juggernaut KB Home. But its prominence is growing, along with its geographic reach and community count.
UCP, which went public last July, is both a land developer and a homebuilder, through its Benchmark Communities subsidiary. Benchmark was selling nine communities at the end of 2013 in Washington State’s Puget Sound, the San Francisco Bay Area and Central Valley. That compares to four communities at the end of 2012.
In March, it opened East Garrison on the former Fort Ord army base in Monterey County, which will include about 1,400 homes. UCP also intends to enter the Southern California market this year. UCP has about 100 full-time employees, not counting laborers, about double its headcount of a year ago.