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Ashton Woods USA L.L.C. Acquires the Assets of Capitol City Homes

Written by Customer Service on . Posted in Mergers And Acquisitions.

Acquisition Supports Expansion of Footprint in the Raleigh Market

ATLANTA, GA, Dec. 02, 2021 (GLOBE NEWSWIRE) — Ashton Woods, one of the nation’s largest private homebuilders, today announced that it has acquired substantially all of the assets of Capitol City Homes, the fifth largest private homebuilder in Raleigh, North Carolina. The acquisition further expands the land positions of both Ashton Woods and its subsidiary Starlight Homes in the highly attractive Raleigh market, with over 1500 total lots and homes owned and controlled across approximately 40 communities.

Established in 2010, Capitol City Homes builds homes ranging from the $200K’s to $500K+ in Raleigh submarkets including Fayetteville, New Bern, Pittsboro, Rolesville, Roxboro, Wake Forest and Zebulon. Jason Morrow and Trey McDonald, the leadership team of Capitol City Homes, have both assumed leadership positions within Raleigh’s Starlight operation.

Ken Balogh, Chief Executive Officer of Ashton Woods, said, “We are excited to welcome the talented team from Capitol City Homes into the Ashton Woods / Starlight Homes family. Jason and Trey are both proven operators with deep market and land experience, and they will be a driving force behind the success of Starlight Homes in our Raleigh market.”

“We are a group of people passionate about helping families realize their dreams. Building homes is simply a means to that end,” said Jason Morrow, who will be assuming the role of Division President for Starlight Homes in Raleigh. “In joining the Ashton Woods / Starlight Homes team, we have an opportunity to accelerate our vision and expand our impact in the Raleigh market, and we couldn’t be more excited.”

Capitol City Homes was represented by Hazeloop-Walsh & Associates in the transaction.

About Ashton Woods

Ashton Woods is one of the nation’s largest private homebuilding companies, delivering over 50,000 homes to homeowners over the course of its 30-plus years in business. The company markets its homes through its two award-winning brands, Ashton Woods Homes and Starlight Homes. The Ashton Woods brand is known for blazing new trails in design and personalization to build homes as unique as the people who live in them, thanks to its industry leading experience at The Studio and designer-curated AW Collections. The Starlight Homes brand builds homes specifically for the first-time homebuyer, offering affordable homes with thoughtful designs and quality finishes for buyers looking to make the dream of home ownership a reality. The company’s commitment to innovation and continually evolving to meet the needs of the market is a key reason it has previously been named Builder of the Year by Builder & Developer magazine.

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CONTACT: Cory J. Boydston, Chief Financial Officer
Ashton Woods Homes
678.597.2121
cory.boydston@ashtonwoods.com

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