The Ryland Group announced this week it intends to acquire the Charlotte and Raleigh operations and assets of homebuilder Timberstone Homes.
The deal is expected to close within two weeks. Most employees will be offered a chance to stay with Ryland, according to a press release. In Charlotte, Ryland will acquire 870 lots, 154 homes sold that are under construction and 17 decorated models.
In 2011, the Indianapolis-based Timberstone Homes was one of the areas more active builders, according to the release.