Stanley Martin Homes pays $7.9M for Groveland subdivision on Dewey Robbins | GrowthSpotter
By LAURA KINSLER | firstname.lastname@example.org | GrowthSpotter
June 19, 2023 at 12:01 p.m.
Stanley Martin Homes paid $7.9 million this month to acquire 343.5 acres along Dewey Robbins Road in Groveland for a new subdivision called Peachtree Hills.
“We were under contract for this property back when we were still Avex Homes,” Division President Eric Marks said. SMH acquired Avex Homes in 2021. The seller was an investment group led by Daryl Carter, president of Maury L. Carter & Associates.
Carter said that fact that the property had already been annexed and zoned meant the buyer would assume little political risk. “Along that entire Dewey Robbins corridor, we’ve sold thousands of acres of land over the last 12-18 months,” he said. “The folks who are buying this property are very well capitalized.”