A Lehigh Valley-based real estate company said it acquired Brite Homes, an Orlando, Florida-based homebuilder for $22 million.
DLP Real Estate Capital, based in Hanover Township, Northampton County, finalized the acquisition last week and is bringing all 35 employees of Brite Homes under the DLP family of companies, said Patrick O’Donnell, chief experience officer of DLP Real Estate Capital.
Aside from Brite Homes, DLP Real Estate Capital has four other companies under its ownership: DLP Realty, DLP Capital Partners, DLP Real Estate Management, and DLP Builders.
The roots of the Brite Homes acquisition reach back over the past several years.
“We funded many of the loans for their construction projects,” O’Donnell said.
Homes built by Brite Homes include energy efficient features such as solar panels, hybrid water heaters, automated technology and dual pane windows.
“It’s where homes will be in about 10 years,” O’Donnell said. “Typically, there’s no electric bill with solar panels integrated.”
While he acknowledged that a few select builders already do provide these types of features in homes, O’Donnell said the acquisition allows DLP to gain a larger footprint in the market.
DLP plans to build hundreds of these types of homes throughout Florida over the next year and expand into additional states, including Pennsylvania.
Brite Homes will retain their name under the DLP family of companies, O’Donnell said.