Summary of Fair Value of Assets Acquired and Liabilities Created |
The following is a summary of the fair value of assets acquired, liabilities assumed, and liabilities created as of September 30, 2015 (in thousands):
| | | | | | | | | | | | | | JEH Homes | | Orleans Homes | | Total | Acquisition Date | April 30, 2015 | | July 21, 2015 | | | Assets Acquired | | | | | | Real estate inventory | $ | 55,559 |
| | $ | 140,602 |
| | $ | 196,161 |
| Land deposits | — |
| | 2,236 |
| | $ | 2,236 |
| Prepaid expenses and other assets | 1,301 |
| | 2,436 |
| | $ | 3,737 |
| Property and equipment | 395 |
| | 623 |
| | $ | 1,018 |
| Goodwill | 9,125 |
| | 25,198 |
| | $ | 34,323 |
| Total assets | 66,380 |
| | 171,095 |
| | 237,475 |
| | | | | | | Less Liabilities Assumed | | | | | | Accrued expenses and other liabilities | — |
| | 2,700 |
| | 2,700 |
| Customer deposits | — |
| | 1,081 |
| | 1,081 |
| | | | | | | Less contingent consideration | $ | 3,200 |
| | $ | — |
| | $ | 3,200 |
| Net Assets Acquired | 63,180 |
| | 167,314 |
| | 230,494 |
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