RESTON, Virginia, May 13, 2024 (GLOBE NEWSWIRE) — May 13, 2024 – Stanley Martin Holdings announced today that it has entered into an agreement to acquire Prestige Corporate Development (a land acquisition, development, and lot sales business) and Prestige Site Works (a land development general contracting business), both headquartered in the Charlotte, North Carolina metro area. Prestige controls more than 8,000 lots in the Greater Charlotte area and is actively performing site development work on 15 projects representing more than 2,500 lots throughout North Carolina and South Carolina. The transaction is expected to close in May 2024.
Steve Alloy, President of Stanley Martin, said, “Stanley Martin’s growth strategy includes expanding beyond its core homebuilding business into additional real estate segments. The two Prestige companies will become …
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