Stanley Martin Homes merges with Piedmont Realty & Construction
Stanley Martin Homes in Reston, one of the largest homebuilders in the Washington, D.C., market, and Piedmont Realty & Construction, one of the largest homebuilders in the Charlottesville area, plan to join forces.
The companies have announced an agreement to merge as part of Stanley Martin’s growth plan to continue to boost new homes sales following five consecutive years of increases. “The combination of Piedmont’s location and its similar business philosophy made it an ideal situation to join forces,” Steven Alloy, president of Stanley Martin Homes, said in a statement.
Drew Holzwarth, president of Piedmont Realty & Construction said: “We are excited to be merging with Stanley Martin Homes. We have complementary product design and a similar commitment to taking care of our customers. The merger provides us with the systems and financial resources to expand our product selection and geographic reach …”
During the next several months, Piedmont Realty & Construction will be integrated into the Stanley Martin Homes’ operational and accounting systems. Holzwarth will join the Stanley Martin leadership team and oversee all development, construction and sales in the southern region of Virginia. For the near term, the two companies will conduct business under their respective brand names.
Stanley Martin Homes and Piedmont Realty & Construction focus on building single family homes and townhomes, with current offerings ranging in price from $199,500 to $1.6 million.