Stanley Martin Homes to Acquire the Operations of Essex Homes – PRNewswire

RESTON, Va., Feb. 12, 2020 /PRNewswire/ --Stanley-Martin Communities, LLC announced today it has entered into an agreement to acquire the homebuilding assets of Essex Homes in North Carolina and South Carolina. The transaction is expected to close by the end of February 2020.

Columbia-based Essex Homes was founded in 1985 in Aiken, South Carolina, by Karl Haslinger. During the subsequent 34 years, Essex grew to become one of the largest homebuilders in the southeastern United States, with homebuilding operations in Columbia, Charlotte, Greenville, North Augusta, and Brunswick County. For the twelve months ending December 31, 2019, Essex closed 853 homes and controlled 8,332 lots. Karl Haslinger will join Stanley Martin as a Regional President and continue to manage operations in the former Essex Homes markets.

"Essex Homes is a perfect match for Stanley Martin. The markets in which Essex Homes builds are some of the strongest housing markets in the U.S. Karl and his team have done an outstanding job, and their commitment to quality construction and superior home design is impressive. We look forward to their joining our team as we work together to continue expanding our operations and delivering outstanding quality for our customers," said Steven Alloy, President of Stanley Martin.

Karl Haslinger, President and Chief Executive Officer of Essex Homes, said, "Essex started as a custom homebuilder and over the last 34 years has grown to become a much larger builder operating in multiple markets. I am proud of what we have done and our success is the result of the hard work of many on our team. My conversation with Steve started with values, culture and the importance of people to Stanley Martin. I am excited about joining a company that shares our values, the opportunity for the employees of Essex to advance and most importantly an unwavering commitment to the homebuyer."

Founded in 1966, Stanley-Martin Communities, LLC is one of the leading homebuilders in the southeastern United States. The company builds in six metro areas: Washington D.C., Richmond, Charlottesville, Raleigh, Charleston, and Atlanta. Stanley Martin builds a wide selection of new housing options, including condominiums, townhomes, and single-family detached homes. The company combines a commitment to excellent design with outstanding quality construction, alongside exceptional customer service. For the twelve months ending December 31, 2019, Stanley Martin closed 1,774 homes and controlled 14,917 lots.

Stanley-Martin Communities, LLC is a subsidiary of the Daiwa House Group, which is headquartered in Japan and is one of the largest housing and construction companies in the world.

About Stanley Martin HomesHeadquartered in Reston, Virginia, Stanley Martin Homes builds new condos, townhomes and single-family homes in Maryland, Northern Virginia, West Virginia, Charlottesville, Richmond, Raleigh, Atlanta and Charleston. Founded in 1966, Stanley Martin has been building homes and neighborhoodswith quality and craftsmanshipfor more than 53 years. For more information, visitwww.StanleyMartin.com.Guildmaster Award Winner:2009, 2010, 2011, 2012, 2013, 2016, 2017, 2018MHBR No. 3588

SOURCE Stanley Martin Homes

http://www.stanleymartin.com

See the original post:
Stanley Martin Homes to Acquire the Operations of Essex Homes - PRNewswire