Ryland purchases 504 local lots from home builder

Calabasas, Calif.-based The Ryland Group Inc. announced on Thursday that it has purchased 504 lots in Indianapolis from Westport Homes.

Ryland completed the acquisition “earlier this year,” according to a press release, but made the announcement along with its agreement to acquire the assets of Timberstone Homes in Charlotte, N.C.

In the Indianapolis area, Ryland in 2010 ranked as the third-largest home builder, with 367 building permits filed, according to IBJ statistics. The builder has had a local presence since 1974.

A few of its larger developments are Stanford Park in Carmel and Tanglewood in Fishers.