Stanley-Martin Communities, LLC, a unit of Japan's Daiwa House Group, said late Wednesday it has entered into an agreement to acquire the home building 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 home builders in the southeastern United States, with 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 CEO of Essex Homes, said, "Essex started as a custom home builder 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 home buyer."
Founded in 1966, Stanley-Martin Communities, LLC is one of the leading home builders 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.
For the twelve months ending December 31, 2019, Stanley Martin closed 1,774 homes and controlled 14,917 lots.
