Business Combination

3 Months Ended

Mar. 31, 2025

Business Combination [Abstract]

Business Combination

The Company has a noncontrolling interest attributable to the 20% minority interest in GRBK GHO Homes, LLC (“GRBK GHO”) owned by our Florida-based partner that is included as redeemable noncontrolling interest in equity of consolidated subsidiary in the Company’s condensed consolidated financial statements.

As amended, the operating agreement of GRBK GHO contains put and purchase options beginning in April 2027. Refer to Note 2 in the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 for details on the put/call structure of this agreement.

The following table shows the changes in redeemable noncontrolling interest in equity of GRBK GHO during the three months ended March 31, 2025 and 2024 (in thousands):

	Three Months Ended March 31,
	2025		2024
Redeemable noncontrolling interest, beginning of period	$	44,709	$	36,135
Net income attributable to redeemable noncontrolling interest partner	2,869		1,651
Change in fair value of redeemable noncontrolling interest	(3,018)		400
Redeemable noncontrolling interest, end of period	$	44,560	$	38,186