Besides its single-family and townhomes portfolio, Beazer provides mortgage origination, title and insurance services to its homebuyers.

Publicly traded Beazer, based in Atlanta, plans to use its common stock to pay for up to 20% of the purchase price. The $64 million price includes the repayment of Sanford debt and payments for the firm's net assets and equity. Sanford has been a Denver-area builder since 1961.

Charles H. "Tim" Sanford, Sanford Homes' CEO, becomes a senior advisor to Beazer after the deal closes. "In this role, I expect to help Beazer maintain the broker relationships that have been so important to Sanford's success and identify land acquisition opportunities to help them grow the business further," Sanford says in a prepared statement from Beazer.