Century Properties Group Inc. (CPGI) is consolidating its first-home housing business under its listed parent company after securing regulatory approval to absorb PHirst Park Homes Inc., a move aimed at simplifying operations and tightening capital allocation.
The Securities and Exchange Commission approved the merger, with CPGI emerging as the surviving corporation and PHirst ceasing to operate as a separate legal entity.
Under the transaction, PHirst’s assets, properties, receivables, rights and other interests will be transferred to CPGI, which will also assume the company’s liabilities and obligations.
The consolidation gives CPGI direct control over PHirst’s housing portfolio and financial performance, strengthening the parent company’s position in the affordable and first-home residential market while bringing the business closer to its broader property operations.
“This merger advances our goal of building a simpler and more agile listed company,” CPGI president and CEO Marco Antonio said.
Antonio said the streamlined structure would support more disciplined capital allocation and create a stronger platform for expanding the group’s first-home residential business alongside its diversified property portfolio.
CPGI expects the merger to remove overlapping functions and improve strategic alignment, governance and execution across the group.
Chief Financial Officer Rodel Marqueses said the combination would also simplify oversight of capital, resources, tax assets and regulatory compliance.
With PHirst’s operations now directly integrated into CPGI, management will have greater visibility into the housing business and more flexibility in allocating resources across residential and other property segments.
The merger follows approvals by the boards and stockholders of both companies, completing the corporate consolidation of PHirst into CPGI.
