Pringle Companies Transition to Pringle Homebuilding Group
03/13/2010

On October 30, 2009, the Pringle Companies completed a long-planned sale of assets to a new company - Pringle Homebuilding Group. The new company was formed and capitalized by a group of investors who believe strongly that the active adult demographic holds great promise and opportunity for the homebuilding industry.

Online PR News – 13-March-2010 – – On October 30, 2009, the Pringle Companies completed a long-planned sale of assets to a new company - Pringle Homebuilding Group. The new company was formed and capitalized by a group of investors who believe strongly that the active adult demographic holds great promise and opportunity for the homebuilding industry. Recognizing Pringle’s outstanding reputation and track record in the active adult market, they established PHG to pursue that opportunity as a builder of fully custom, yet affordable new homes in central Florida.
“We are very proud and excited to have completed this transaction”, stated Steve Nordstrom, PHG’s President. “Pringle Homebuilding Group is well-positioned to carry on and expand upon the Pringle tradition of quality homes and customer satisfaction.”
PHG will continue to headquarter in Eustis, Florida, with primary operations in two master-planned communities- The Lakes of Mount Dora and Legacy of Leesburg. Both are established resort-style active adult communities with distinctive themes. The company is also reviewing opportunities to become the preferred custom builder in other central Florida locations, as well as expansion to serve additional demographics.
The core management team and many former employees of Pringle have joined PHG with a goal of continued outstanding service to residents and customers. As part of the transaction, contractual rights for all homes under construction and in backlog of Pringle were assigned to PHG. All customers who contracted to have a home designed and constructed by Pringle have been notified of the assignment, and the new company will continue to work with all customers toward construction of their new custom homes just as contemplated in their original contracts. Since October, the response from customers has been overwhelmingly positive as PHG’s Design Studio appointment calendar has steadily filled, and clients are excited by the vast array of options, choices and custom design services that only Pringle Homebuilding Group has to offer.
For more information about Pringle Homebuilding Group and Pringle communities, please call 800-325-4471, or visit the company’s website www.Pringle.com.