Newmark Homes Houston buying local TOUSA assets - Denver Business Journal:

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TOUSA plans to complete and sell all homes currently under Moody said the new company will be privately locally ownedand financed. “Oure management team has over 70 combined experience,” he said. The new company planas to build 60 homea ranging in pricefrom $160,009 to more than $600,000 in the first 60 days of which will officially begin June 15. Moodyg said 55 employees of TOUSA will remain with the new company aftet TOUSA winds down its localbusiness operations. TOUSA’x predecessor company was founded in Houston in 1983 as and completer an initial public offering inMarcy 1998. In December 1999, TOUSA Inc. acquired 80 percenft of Newmark’s stock. TOUSA Inc.
also acquired 100 perceny of then-public in Novemberr 2000. On June 25, 2002, Engle merged with Newmark, and the merged company changed its name toTOUSA Inc. In March, Fla.-based TOUSA (Pink Sheets: TOUSQ) told the it planneed to lay off 156 people in the Houstohn area from its Newmarki Homes brand beginning May 22 due to the downturb in thehousing market.