PulteGroup Sells Select Colorado Land Assets; Terms Not Disclosed

PulteGroup, Inc.

, announced today that it has completed the sale of land approved for approximately 1,500 residences in Broomfield, Colorado to Wheelock Street Capital LLC, a private real estate investment firm. The all-cash transaction is for the remaining developed lots and undeveloped land in Anthem Colorado, a 1,700-acre master planned community in the northwest Denver metro area. The master plan includes the communities of Anthem Ranch and Anthem Highlands. Terms and conditions of the transaction were not disclosed. PulteGroup will not realize a material loss or gain on this land sale. "We are very proud of the Anthem Highlands and Anthem Ranch communities, which are known for their spectacular array of amenities and for being a great place to call home," said Patrick Beirne, PulteGroup West Area President. "This sale is consistent with PulteGroup's capital allocation strategy and overall focus on driving greater returns on invested capital." Beirne said PulteGroup is confident that Wheelock's financial strength and understanding of master-planned community development will contribute to Anthem's continued long-term success. "We've enjoyed working with Wheelock on this complex transaction and have been impressed with their professionalism and the quality of their team," Beirne said.