William Lyon Homes Announces Agreement to Acquire RSI Communities, a Southern California and Texas Based Homebuilder - Seite 2

It is anticipated that upon the closing of the transaction that RSI’s Texas operations will become a new William Lyon Homes region, led by RSI’s current Chief Operating Officer, John Bohnen, who will serve as Regional President. Prior to his time with RSI, Mr. Bohnen served in various executive positions for several publicly traded homebuilders, including most recently as Division President for Standard Pacific Homes and CalAtlantic Homes in Austin, Texas from 2012 to 2016. Mr. Bohnen also served for several years as an Infantry Captain in the U.S. Army prior to his homebuilding career. RSI’s Southern California operations will become a new Inland Empire division of William Lyon Homes, led by Pat Donahue as Inland Empire Division President. Mr. Donahue brings nearly 30 years of homebuilding experience to his new role, with particular expertise in start-up initiatives and new divisions. Prior to his service as Southern California Division President for RSI, Mr. Donahue served in executive roles at several private and public homebuilders, including Pulte Homes. Mr. Donahue is also a veteran of the U.S. Marine Corps.

“We are thrilled to bring John, Pat and their respective teams on board as an integral part of William Lyon Homes,” said Mr. Zaist. “The RSI management team brings a tremendous amount of industry experience and historical public company operating discipline and has developed a reputation for high quality construction and customer satisfaction, along with an attractive lot supply that our combined Company can leverage for future top and bottom-line growth.”

Mr. Zaist, concluded, “The acquisition of RSI represents our most significant acquisition since our entry into Portland and Seattle with the Polygon Northwest Homes acquisition in 2014, and furthers our strategy of building in the strongest markets in the Western U.S., while also strengthening our pipeline in Southern California, as we continue our mission of being the premier Western Regional Homebuilder.”

The Company intends to fund the acquisition with cash on hand, debt, and approximately $200 million in land banking proceeds to be provided by Hearthstone.

The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals and is expected to close in March of 2018. J.P. Morgan Securities, LLC acted as exclusive financial advisor for William Lyon Homes and Latham & Watkins LLP acted as legal advisor. Citi acted as exclusive financial advisor for RSI and O’Melveny & Myers LLP acted as legal advisor.