Advertisement

REAL ESTATE

From Times Staff and Wire Reports

Golden West Homes Acquired: A North Carolina maker of manufactured housing said it has bought Golden West Homes of Santa Ana in a deal currently worth $17.4 million. Oakwood Homes Corp. of Greensboro, N.C., said it bought privately held Golden West in a bid to expand its market in the West. Golden West operates manufactured-housing plants in Perris, Sacramento and Albany, Ore. Oakwood said it will issue 700,000 shares of common stock, equal to about 3.4% of its current number of outstanding shares, to buy Golden West. Golden West’s work force of 750--of which 430 are in California--and its management team led by President Harry E. Karsten Jr.--are expected to remain in place.


Advertisement