WCI Acquires Spectrum

VALHALLA, NY-In a deal the company’s founder says will allow it to expand significantly in the Northeast, Spectrum Communities has been sold to Florida-based luxury home developer WCI Communities Inc. No purchase price for the transaction was reported.

Mitchell Hochberg, who founded the Spectrum firm in 1985, will continue to direct the company’s operations as president and chief executive officer of WCI Spectrum Communities LLC, a wholly owned subsidiary of WCI. The company’s headquarters will remain in Valhalla. All of the company’s 150 employees have now become part of the new venture.

“I believe that WCI and Spectrum Communities are a winning team. Our integrated talents and assets, combined with our customer-centric philosophies will propel us toward our goal of expansion throughout the Northeast,” says Hochberg.