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M/I Homes buys Detroit builder
... builder M/I Homes announced today that it is buying the Detroit-area builder Pinnacle Homes for an undisclosed amount. Pinnacle, based in Bloomfield Hills, Michigan, sold 214 homes last year and controls more than 1,000 home sites in the Detroit area ...
Jim Weiker The Columbus Dispatch @JimWeiker
The Columbus builder M/I Homes announced today that it is buying the Detroit-area builder Pinnacle Homes for an undisclosed amount.Pinnacle, based in Bloomfield Hills, Michigan, sold 214 homes last year and controls more than 1,000 home sites in the Detroit area, according to an M/I news release.“We believe this acquisition represents an excellent strategic fit for M/I Homes and further enhances our market position with a well-established operation and land position in a dynamic and growing housing market,” said M/I Chief Executive Robert Schottenstein.Howard Fingeroot, who founded Pinnacle with Steve Friedman in 2005, will take over as president of M/I’s Detroit division.Detroit becomes M/I Home’s 16th market.
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