Reston, Virginia-based Stanley Homes has entered the Florida homebuilding market by acquiring Avex Homes from Sitex Properties USA for an undisclosed sum.
Avex Homes currently has more than 300 homes under construction and controls more than 4,400 building lots in Orlando, Tampa and Daytona.
“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,” said Steve Alloy, president of Stanley Martin.
Avex Homes has been building houses in Central Florida since 2012.
Stanley Homes, founded in 1966, builds homes in the D.C. metro area as well as Richmond. It also has a foothold in markets in Georgia, North Carolina and South Carolina.
Stanley Homes is one of two developers planning almost 3,000 homes at a new residential development by the George Mason University Science and Technology campus outside of Manassas, Virginia.
The Avex Homes acquisition is expected to close this month.