Meritage Homes scoops up Atlanta builder for a cool $130 million

Screen Shot 2014-07-11 at 9.58.27 AMBy Catherine Reagor, The Republic | azcentral.com

Meritage Homes Corp. is buying an Atlanta builder for $130 million, which will bolster the Scottsdale-based homebuilder’s growing presence in the Southeast.

Publicly traded Meritage is buying privately held Legendary Communities, which was started in 2009 and builds houses priced from $120,000 to $550,000. Last year, Legendary recorded revenue of $156 million on the sale of 500 houses in Atlanta, Charlotte, N.C., and Greenville-Spartanburg, S.C.

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