LA Times - "KB Home Cuts Holdings as Market Cools" (8-30-06)

"Majority owner Empire Cos. acquires the builder's 49% stake in the master-planned Anaverde project in the Antelope Valley."

"KB Home has started pruning its land portfolio in Southern California, a byproduct of a slumping housing market that is forcing big builders to reevaluate their property holdings."

"The Westwood-based builder said Tuesday that it had sold its 49% stake in the massive Anaverde master-planned community in the Antelope Valley to the majority owner, Empire Cos. of Ontario."