WASHINGTON — Daiwa House Group’s Daiwa House USA subsidiary will acquire an 82 percent stake in Stanley Martin Communities LLC, a company that has been building homes in the D.C. region for 50 years.
Financial terms of the acquisition weren’t disclosed. It is expected to close in December.
Stanley Martin has annual revenue of about $500 million. It is a leading building in the metro D.C. area, as well as Richmond, Charlottesville and Raleigh, North Carolina.
Daiwa House Group is the largest homebuilding company based in Japan. It is expanding international operations in China, Southeast Asia and Australia and entered the U.S. apartment rental market in 2014 through a joint venture with Lincoln Property Company.
“Having previously lived in Japan and worked with Japanese companies, I am enthusiastic about the opportunity for Stanley Martin to succeed and grow as part of the Daiwa House Group,” said Steven Alloy, president of Stanley Martin.
Daiwa says its long-range plan is strong expansion in the U.S. housing market and it calls its investment in Stanley Martin a major step in that direction.
