Forestar Group Inc. (NYSE: FOR) was established in 1955 and is headquartered in Arlington, Texas, USA, with 128 full-time employees. It is a real estate development company and a subsidiary of DR Horton, Inc.
Forestar Group (FOR):
Forestar Group Inc. is a real estate development company that is engaged in the acquisition, authorization and development of the infrastructure of single family residential (single family, that is, single-family villa) communities. Forestar Group Inc. mainly sells houses to house builders. Forestar Group Inc. is a subsidiary of Holden Corporation.
On June 29, 2017, DR Horton and Forestar, one of the country’s largest homebuilders, announced a merger agreement to create a leading national land development company. The former acquired 75% of Forestar at a price of $17.75 per share; Forestar terminated its previous merger agreement with Starwood Capital Group.
After merging with Horton, the largest homebuilder in the United States, Forestar has a diverse geographic location and strong economic strength, which complements Forestar’s vision of building a community to improve the lives of community residents, while creating value for shareholders, trading partners and employees.
Before the merger with Holden in 2017, Forestar Group operated real estate, oil and gas in the United States.
The former Forest Company had three divisions: real estate, oil and gas and other natural resources.
- Forestar Group’s real estate business: mainly the merger, acquisition, rights acquisition, development and sale of residential and mixed-use communities. The company also sells commercial land and residential land mainly to people who build houses. It sells undeveloped land through its retail sales program, as well as operating income-generating properties, such as restaurants and mixed-household properties. The business owns approximately 113,000 acres of real estate directly or through joint ventures, located in ten states and 13 markets in the United States, and has 11 real estate projects in the process of obtaining rights of approximately 24,000 acres, and in 8 states and 13 There are 75 authorized, developed, and developing projects in each market covering approximately 12,000 acres.
- Forestar Group’s oil and gas business: the focus is on the exploration, development and production of oil and gas in the mining shares owned and leased. The company leases its mining shares to third parties to explore and produce oil and gas. The business owns approximately 960,000 net acres of oil and gas mining shares in 16 states in the continental United States.
- Forestar Group’s other natural resources business: Selling wood, mainly from some land in Georgia, and renting the land for recreational use. The business owns approximately 102,000 acres of wood directly or through a joint venture, and also owns approximately 1.5 million acres of water resources.
As of September 30, 2015, the Forrester Group of Companies owns 106,000 acres of real estate in 15 markets in 12 states in the United States; owns 9 important commercial and income-generating assets; in Texas, Louisiana, and Alabama States and Georgia have 590,000 net acres of mineral resources; 324,000 net acres of oil-rich basin rights; manages 95,000 acres of woodland, producing forest and fiber; owns 1,500,000 acres in Texas, Louisiana, Alabama and Georgia Water source.