Stanley Martin buys Great Southern Homes to enter Myrtle Beach market
What's the deal? Stanley Martin HomesDealroom has a profile for this one. Try Dealroom → has acquired Great Southern HomesDealroom has a profile for this one. Try Dealroom →, giving it entry into the Myrtle Beach market. The Reston, Virginia-based builder now has eight neighborhoods selling across South Carolina's Grand Strand.
What's on offer? Buyers can choose floorplans with 2-4 bedrooms and roughly 1,500 to 2,700 square feet, priced from the mid $200s to the $500s. The communities sit across Horry County, near beaches, golf courses, and shopping.
What's the endgame? The deal completes Stanley Martin's expansion into South Carolina's major housing markets. "Our entry into Myrtle Beach completes Stanley Martin's expansion into South Carolina's major housing markets," said Lewis Birnbaum, executive vice president. He said the move "represents an important milestone in our growth as one of the state's largest homebuilders."
Why now? The company is leaning on a local team already familiar with the Grand Strand. Birnbaum said Myrtle Beach's coastal appeal and economic growth continue to draw buyers from across the region.
The backdrop: Founded in 1966, Stanley Martin has built more than 40,000 homes and operates in 19 metropolitan areas across seven states. It is a subsidiary of Japan's Daiwa House GroupDealroom has a profile for this one. Try Dealroom →, one of the world's largest housing and construction companies.
The signal: The acquisition reflects how national homebuilders are using local M&A to enter high-demand coastal markets rather than building brands from scratch. For Stanley Martin, absorbing an established regional player buys instant scale and market knowledge in a fast-growing part of the Carolinas.
Read more: globenewswire.com
Image credit: NCinDC
