By Alison Rice. Consolidation continues with Centex Homes’ purchase of The Jones Co.’s St. Louis and Indianapolis home-building operations. Terms were not disclosed for the deal, which will bring Centex about 800 more closings annually.
Meanwhile, NRT, the real estate brokerage subsidiary of New York-based Cendant Corp., continues to grow. In August, it announced plans to purchase The DeWolfe Cos. for $149 million, or $19 per share. The deal merges DeWolfe with NRT’s existing Coldwell Banker operations and creates a New England brokerage that accounted for a combined $13.9 billion in closed sales last year.