Tri Pointe is accelerating purchases of lots in such inland areas as Riverside County and Sacramento, California, as land prices surge in large coastal cities, President Tom Mitchell said. The company, 38% owned by Barry Sternlicht’s Starwood Capital Group LLC, raised $233 million in a January initial public offering, with most of the proceeds being used for land purchases, according to Bloomberg.
Tri Pointe Homes alters land plans
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