RESTON, Va., Feb. 14, 2017 /PRNewswire/ -- Daiwa House Group announced today that its Daiwa House USA subsidiary has completed the previously announced transaction to acquire 82% of the member interests in Stanley-Martin Communities, LLC.
Stanley Martin has been building homes in the Washington D.C. metropolitan area for over 50 years. It is a leading home builder in the metro Washington D.C., Richmond, Charlottesville, and Raleigh housing markets. Stanley Martin also owns a majority interest in First Heritage Mortgage, an independent mortgage banker, and First Excel Title, a title insurance and settlement services business in the Washington D.C. metropolitan area.
Daiwa House Group is the leading company in Japan which operates in the housing and construction business. It has been expanding its international operations in China, Southeast Asia, and Australia, and in 2014 it entered the U.S. rental multifamily housing business through a joint venture arrangement with Lincoln Property Company. Daiwa House's long range plan places a strong emphasis on expansion in the United States housing market, and its investment in Stanley Martin is a major milestone in achieving that plan.
Moelis & Company LLC served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Stanley Martin. SMBC Nikko served as financial advisor and Baker McKenzie served as legal advisor to Daiwa House.
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SOURCE Stanley-Martin Communities, LLC