NEWPORT BEACH, Calif. - Capital Pacific Homes Inc., a newly formed company, has agreed to acquire the common stock and debt of California home builder J.M. Peters Co.

The failed San Jacinto Savings Association of Houston, Tex., had held the builder's securities. The purchase agreement was announced Tuesday by the Resolution Trust Corp., acting as receiver.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.