Greensboro residential homebuilder Windsor Homes said Wednesday the company has been sold to Stanley Martin Homes LLC.
Terms were not disclosed. The companies project closing on the deal by Sept. 30.
Windsor currently controls about 2,100 lots in the Triad, with a focus on Burlington, Greensboro, High Point and Winston-Salem, as well as in the Wilmington area. It has 270 homes under construction.
Based in Reston, Virginia, Stanley Martin Homes was founded in 1966.
The company has built more than 40,000 homes in Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and West Virginia, with a focus on 15 metropolitan areas in those states.
Stanley Martin is a subsidiary of the Daiwa House Group, with primary global offices in Osaka, Japan, and Tokyo, Japan.
Stanley Martin said the purchase will increase its controlled lot count by 25% in North Carolina and add 32 new communities to its portfolio.
“This acquisition is a strategic step in our continued expansion across the Southeast,” said Steve Alloy, President of Stanley Martin.
“It enhances the company’s ability to meet growing demand in high-opportunity North Carolina markets … where housing inventory remains limited and buyer interest is strong.
“We were immediately impressed by the leadership team at Windsor Homes, their commitment to quality, and their alignment with our values and culture.”
Tom Hall, president of Windsor Homes, said Stanley Martin’s acquisition “marks a new chapter for our team — one filled with opportunity, growth and shared success.”
rcraver@wsjournal.com
336-727-7376
@rcraverWSJ
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