Daiwa House Group, the largest homebuilder in Japan, announced that its U.S. subsidiary has agreed to acquire 82 percent of the member interests in Stanley-Martin Communities, LLC., a builder in the Washington D.C. metropolitan area.
Daiwa has expanded operations into China, Southeast Asia, and Australia in recent years. Two years ago, the firm struck a deal with Lincoln Property Company to build multifamily housing in the U.S.
For the 12 months ending in September, Stanley Martin had 902 home sales and 821 home closings, generating $500 million in revenue. In addition to Washington, the company builds in other metros in Virginia and North Carolina.
The transaction is expected to close in December 2016.
PB Topical Ref
