Novel Park; inset, Bill H. Lyon

Novel Park; inset, Bill H. Lyon

Scottsdale, Ariz.-based homebuilder Taylor Morrison Home Corp. (NYSE: TMHC) closed on its acquisition of Newport Beach-based William Lyon Homes.

The total consideration was $2.5 billion, including $950 million of equity.

The sale brings Taylor Morrison’s portfolio to 80,000 owned and controlled lots and 430 communities, making it the nation’s fifth largest homebuilder.

For more on what remains of Orange County’s residential playing field, see the Feb. 3 print edition of the Business Journal.