MDC Holding to acquire the homebuilding assets of The Jones Company of Tennessee.

MDC Holding, a home construction company, agreed to acquire the homebuilding assets of The Jones Company of Tennessee, a real estate developer. Financial terms were not disclosed. "I am extremely proud of the business we have built in Nashville over the last twenty-seven years. My priority in identifying a purchaser for this transaction was to provide our people with the opportunity to continue to grow well into the future. The Richmond American Homes companies have a proven track record of growth. Richmond American will be looking to the Jones team to build its operations into one of the largest homebuilders in Tennessee. I am grateful to Howard Chilcutt for his vision and ongoing support after establishing our operations in Nashville with Bob Jones nearly 30 years ago," Ken Stricker, Jones Company CEO.