Tri Pointe Homes set to hit big time with Weyerhaeuser deal

(Reuters) - Tri Pointe Homes Inc (TPH.N) is buying Weyerhaeuser Co's (WY) homebuilding division in a $2.7 billion deal that will give it access to developed land in key markets such as California and Texas and make it one of the 10 biggest U.S. homebuilders. Weyerhaeuser, whose shareholders will control Tri Pointe after the deal, had been looking to get rid of its homebuilding unit as it focuses on its core timber business. Tri Pointe said its land assets would jump more than 10-fold after the deal, giving it nine years' worth of lot supply. That would be more than the average of 7.4 years for the top five U.S. homebuilders, which include D.R. Horton Inc (DHI), PulteGroup Inc (PHM) and Lennar Corp (LEN), according to data released by Tri Pointe.



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