Standard Pacific Grows

Costa Mesa home builder Standard Pacific Corp. said it has completed its acquisition of the Phoenix home building operations of UDC Homes Inc. for about $58 million.

Standard Pacific said the transaction includes a backlog of nearly 400 pre-sold homes and certain finished lot positions. The company also obtains rights to acquire additional properties representing a portion of the UDC Homes’ Phoenix single-family-home building operation that was recently acquired by Shea Homes.