Updating a story MHProNews first posted Oct. 10, 2015 about Clayton Homes’ acquisition of Chafin Homes of Buford, Georgia, it has been disclosed to MHProNews that the price for the deal was $50 million, plus the previously revealed 1,100 developed and undeveloped building lots. According to housingwire, Chafin has been working in the northeast metro area of Atlanta. Builders in some metro areas have stated there are lot shortages, which is driving up the price of homes.

Brothers Eric and Daryl Chafin have been in the construction business since they were teenagers, their website states, and after working into leadership roles for a large Atlanta metro builder, they formed their own company in 1996. They have built 4,500 homes from headquarters in Buford, GA.

The Chafins will remain at the helm of the company, while their 25 employees will be absorbed by Clayton.

This represents another foray into site-built homes for Clayton. As Keith Holdbrooks, president of the Clayton home building group, said earlier, “It means that we are expanding our home offerings to include all types of housing, so we will be answering more lifestyle needs for different types of families.” ##

(Image credit: Chafin Communities)

Article submitted by Matthew J. Silver to Daily business News-MHProNews.