By Kristena Hansen
Phoenix Business Journal
If you’d like to discuss real estate matters, contact Rose Law Group Founder Jordan Rose, jrose@roselawgroup.com
Scottsdale-based Taylor Morrison Home Corp. filed papers Dec. 5 requesting to become Arizona’s second publicly traded home builder — the other being Meritage Homes Corp. in Scottsdale. They aren’t the only ones looking to benefit from Wall Street.
My article in last week’s publication outlined how Taylor Morrison’s $250 million initial public offering comes as home builders are turning to the stock market for capital in anticipation of a surging new-home market, and other Arizona real estate companies have jumped on that bandwagon.
For instance, Healthcare Trust of America Inc. and Spirit Realty Capital Inc. — both based in Scottsdale and registered as commercial real estate investment trusts, or REITs — went public on the New York Stock Exchange this past summer.
Taylor Morrison is no stranger to Wall Street. The builder previously was owned by Taylor Wimpey PLC, one of the world’s largest home builders, formed by the merger of Taylor Woodrow PLC and George Wimpey PLC in 2007. It is listed on the London Stock Exchange.
