U.S. Home Corp. said it received a takeover offer.

The Houston-based firm, one of the nation’s largest home builders, reported that Pacific Realty Corp., a privately held housing concern which already owns 9.24% of the firm’s 36.4 million shares, offered to buy the remaining U.S. Home stock for about $304 million. Under the offer, each of the remaining shares of U.S. Home would be exchanged for $6.50 cash, preferred stock with a face value of $2.50 and a fractional share of “new” U.S. Home common stock, Pacific Realty said.