[Haggar]

Originally Posted by BrianL99

Companies go public to grow & expand, not the opposite. The Morse's commercial portfolio isn't expandable ... more likely, the opposite.

And why is a sale to a Private Equity fund bad? Someone mentions prices will go up. Only to the extent the market can bear it. You can't raise home prices if the price doesn't justify it. As far as raising other fees it affects the market values of home for sale - new and used - so that doesn't seem like a sound strategy.

If the Morse's have a desire to get out - and aren't they private equity - a new owner may be good for the Villages.

[golfing eagles]

Originally Posted by Altavia

Seems unlikely to walk away from the core new home construction business with over two billion dollars in revenue a year.

Two BILLION in REVENUE per YEAR???? I would suggest rethinking that number 😂😂😂

[Rainger99]

Originally Posted by golfing eagles

Two BILLION in REVENUE per YEAR???? I would suggest rethinking that number 😂😂😂

BUILDER publishes the annual “Builder 100”, which ranks the nation’s largest homebuilders and reports things such as homes closed and revenue.

According to Builder, in 2025 The Villages of Lake-Sumter, Inc. (VLSI) had $1.642 billion in revenue.

It is unclear if that is just the VLSI or if it also includes The Villages Development Company, LLC (VDC).

The VLSI was historically the developer/builder. It appears that The Villages Development Company, LLC (VDC) is the primary developer and builder now.

There are also a number of related companies including

The Villages Operating Company
* The Villages Development Operating Company, LLC
* The Villages Development Company, LLC
* The Villages Development Holding Company, LLC
* The Villages Land Operating Company, LLC
* The Villages Land Holding Company
* Holding Company of The Villages, Inc.
* The Villages Technology Solutions Group, LLC

There are also a number of companies under The Villages Operating Company including:

* North Sumter Utility Company
* Central Sumter Utility Company
* The Villages Water Conservation Authority
* Sumter Water Conservation Authority
* Sumter Sanitation
* Villages/Acorn Commercial Partners
* Morse-Sembler Villages entities
* Titan Brownwood
* The Villages CAHB
* The Villages Grown
* Spanish Springs Lofts
* GTMJ entities
* various property/real-estate companies

Unless you are the accountant for the developer, it is impossible to give an accurate number.

[Stu from NYC]

Originally Posted by golfing eagles

Two BILLION in REVENUE per YEAR???? I would suggest rethinking that number 😂😂😂

If they sell 300 homes per month plus revenue from real estate bet it is at least 1.5 billion.

[Altavia]

Originally Posted by BrianL99

If it happens, I think that's the business they would keep. It is easily "scaled" to market conditions.

The collaboration with Benderson Development for the commercial development of Legacy place may be another hint of things to come.

[Altavia]

Originally Posted by Stu from NYC

If they sell 300 homes per month plus revenue from real estate bet it is at least 1.5 billion.

The clearest published figure is $1.642 billion in 2025 new-home revenue, from 3,527 closings reported for The Villages of Lake Sumter.

Builder Online

I'm not sure that includes Middleton.

Add more than a half million sq ft of commercial property construction per year gets it close to $2 billion in constructing revenue.

Revenue from pre-owned home sales would be on top of that.

[tophcfa]

Originally Posted by Jayhawk

Well, they got $50 million for the health business and $710 million for the bank, so it sure looks like it was a profit motive rather than desperation or problems that precipitated the sales.

Don’t forget to net out the $541.5 million settlement the health business had to cough up to the Office of Public Affairs division of The Department of Justice to resolve False Claims Act allegations.

[BrianL99]

Originally Posted by crosbystills

how about caveat emptor?

ce ?

[BrianL99]

[QUOTE=Haggar;2537914]
- and aren't they private equity - /QUOTE]

I asked AI that exact question a couple of hours ago. The answer was "no", but try it yourself and read the reasoning.

[BrianL99]

Originally Posted by golfing eagles

Two BILLION in REVENUE per YEAR???? I would suggest rethinking that number 😂😂😂

Originally Posted by Rainger99

According to Builder, in 2025 The Villages of Lake-Sumter, Inc. (VLSI) had $1.642 billion in revenue.

It is unclear if that is just the VLSI or if it also includes The Villages Development Company, LLC (VDC).

There are also a number of related companies including

The Villages Operating Company
* The Villages Development Operating Company, LLC
* The Villages Development Company, LLC
* The Villages Development Holding Company, LLC
* The Villages Land Operating Company, LLC
* The Villages Land Holding Company
* Holding Company of The Villages, Inc.
* The Villages Technology Solutions Group, LLC

There are also a number of companies under The Villages Operating Company including:

* North Sumter Utility Company
* Central Sumter Utility Company
* The Villages Water Conservation Authority
* Sumter Water Conservation Authority
* Sumter Sanitation
* Villages/Acorn Commercial Partners
* Morse-Sembler Villages entities
* Titan Brownwood
* The Villages CAHB
* The Villages Grown
* Spanish Springs Lofts
* GTMJ entities
* various property/real-estate companies

Unless you are the accountant for the developer, it is impossible to give an accurate number.

Originally Posted by Stu from NYC

If they sell 300 homes per month plus revenue from real estate bet it is at least 1.5 billion.

Originally Posted by Altavia

The clearest published figure is $1.642 billion in 2025 new-home revenue, from 3,527 closings reported for The Villages of Lake Sumter.

Builder Online

I'm not sure that includes Middleton.

Add more than a half million sq ft of commercial property construction per year gets it close to $2 billion in constructing revenue.

Revenue from pre-owned home sales would be on top of that.

I guess it all depends on how you want to count, but my guess is that the total yearly revenue of the Morse Family businesses & holding companies, is over $1.5B, but less than $2B per year. More importantly, I bet their profit margins are staggering.

(& to whoever mentioned a Villages IPO, that revenue is why it's not likely. No family business with revenue over $1B, wants to pull their pants down and show the world how it works & I don't blame them. You might recall the Healthcare bankruptcy, when one of the major disputes arose when the Morse' family was hit with requests for personal financial information ... they settled fairly quickly after that.)

[dewilson58]

Originally Posted by BrianL99

You might recall the Healthcare bankruptcy, when one of the major disputes arose when the Morse' family was hit with requests for personal financial information ... they settled fairly quickly after that.)

AGAIN, You have no idea...............just act like you do.

Credibility = Zero.

[zuidemab]

presumptive , leading, inciting, speculative.
(more popcorn please) 🧐

Originally Posted by BrianL99

It's becoming increasingly likely, it seems.

The newer generations of the Developer don't seem interested in continuing, based on the fact that the new CEO came from outside the family.

They're selling off the management intensive businesses ... bank, healthcare and I've heard, some "suppliers".

Looks suspiciously like preparation for a sale. I used to think the tax implications were a protection against that, but I no longer see that as an obstacle ... there are ways around that. I'm guessing the family will sell off the entirety of their commercial holdings to PE, which effectively puts PE in charge of The Villages.

Not to be controversial or an instigator, but I have plenty of popcorn available.

[BrianL99]

Originally Posted by BrianL99

You might recall the Healthcare bankruptcy, when one of the major disputes arose when the Morse' family was hit with requests for personal financial information ... they settled fairly quickly after that.)

Originally Posted by dewilson58

AGAIN, You have no idea...............just act like you do.

Credibility = Zero.

Mark Morse was served with a Rule 2004 demand on Feb 16, 2025, with a March 12 production date. His sisters and various entities were served the next day. 8 days later, the family agreed to pay $80,000,000 to settle. I don't blame them, I wouldn't want to open my underwear draw ... the only difference, is I'd have to borrow most of the $80,000,000. I'm sure the family had it sitting around in petty cash.

Those are simple facts from the Bankruptcy filing. Yes, I have an idea.