Stanley Martin to buy homebuilding assets and operations of Avex Homes
Stanley Martin Homes, a Virginia-based home building company, has agreed to acquire all the homebuilding assets and operations of Avex Homes located in Central Florida.
The financial terms of the deal were not disclosed.
The homebuilding assets included in the deal are more than 300 homes, that are presently under construction in addition to over 4,400 controlled lots in the Orlando, Daytona, and Tampa markets.
Eric Marks — President of Avex Homes said: “We have been building high quality homes in Central Florida since 2012, and we have successfully grown each year. Our plan is to continue our expansion by combining our local experience with the resources of Stanley Martin.
“It is an exciting announcement for our team members and I am looking forward to a successful future as a part of Stanley Martin.”
The deal is expected to be wrapped up this month.
Steve Alloy — President of Stanley Martin Homes said: “We have strategically been working to enter the Florida market for several years. When we first met the leaders of Avex Homes, we immediately recognized what a great fit they would be with Stanley Martin.
“We had shared values and a shared commitment to customers, and we both had a strong focus on quality.”