Stanley Martin Homes to Acquire the Operations of Essex Home

Stanley Martin Homes to Acquire the Operations of Essex Home
  • Written on February 12, 2020 By Stanley Martin homes

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 inNorth CarolinaandSouth Carolina. The transaction is expected to close by the end ofFebruary 2020.

Columbia-based Essex Homes was founded in 1985 inAiken, South Carolina, byKarl Haslinger. During the subsequent 34 years,Essexgrew to become one of the largest homebuilders in the southeasternUnited States, with homebuilding operations inColumbia,Charlotte,Greenville,North Augusta, andBrunswick County. For the twelve months endingDecember 31, 2019,Essexclosed 853 homes and controlled 8,332 lots.Karl Haslingerwill joinStanley Martinas 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 inJapanand is one of the largest housing and construction companies in the world.

About Stanley Martin Homes
Headquartered inReston, Virginia,Stanley Martin Homesbuilds new condos, townhomes and single-family homes inMaryland,Northern Virginia,West Virginia,Charlottesville,Richmond,Raleigh,AtlantaandCharleston. Founded in 1966,Stanley Martinhas been building homes and neighborhoodswith quality and craftsmanshipfor more than 53 years. For more information, visitwww.StanleyMartin.com.
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