Standard Pacific Set to Purchase Builder

Irvine-based home builder Standard Pacific Corp. said it signed a letter of intent to buy Bakersfield-based builder Advantage Homes.

If completed, the acquisition would be Standard Pacific’s second purchase of a Bakersfield builder this year. In March, the company acquired Probuilt Homes’ local operations.

Terms of the Advantage deal were not disclosed.

Standard Pacific is following other large builders into the Central Valley. As land suitable for building in California becomes more expensive and harder to find, builders are turning to the central part of the state.

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Annette Haddad