NVR completes acquisition of Pittsburgh homebuilder
Reston-based NVR, Inc. has completed its acquisition of Heartland Homes Inc., the second largest homebuilder in Pittsburgh.
In 2012, Heartland Homes sold about 400 houses. The company is currently active in 36 communities in the Pittsburgh area, one community in Monongalia, W.Va., and one community in Raleigh, N.C.
NVR operates in two business segments: homebuilding and mortgage banking. The homebuilding unit sells and builds homes under the Ryan Homes, NVHomes, Fox Ridge Homes and now Heartland Homes trade names.
The company perates in 27 metropolitan areas in 15 states.
Heartland Homes markets primarily to move-up, discretionary homebuyers, NVR says.
The company described Heartland as a strong compliment to its Ryan Homes business. Ryan Homes primarily serves first-time and first-time move-up homebuyers in the Pittsburgh market.
NVR intends to expand the size of Heartland’s business in the Pittsburgh market as the housing recovery continues.
Heartland Homes was founded in 1984 by Alan “Gus” Gillespie. He is the son-in-law of the late Ed Ryan, who founded Ryan Homes in 1948.
Gillespie’s son, Edward Martin “Marty” Gillespie, became president of Heartland Homes in 2005. Marty Gillespie will continue to manage Heartland.