March 3, 2017 / 1:12 PM / 5 months ago

BRIEF-AV Homes to acquire Savvy Homes in Raleigh, North Carolina

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March 3 (Reuters) - AV Homes Inc

* AV Homes to acquire Savvy Homes in Raleigh, North Carolina

* AV Homes Inc - Deal for approximately $50 million

* AV Homes Inc - Deal for $50 million in cash

* Says acquisition will be funded by cash on hand and AV Homes' revolving credit facility

* Acquisition will be funded by cash on hand and AV Homes' revolving credit facility

* Transaction has been approved by AV Homes board of directors and is expected to close in Q2 of 2017

* AV Homes Inc - Michael P. Kahn represented seller in the transaction Source text for Eikon: Further company coverage:

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