This new acquisition will expand builder’s offering into Hampton Roads, Va., area
CHARLOTTE, N.C., March 31, 2025 /PRNewswire/ — Eastwood Homes is proud to announce today that it has completed the acquisition of Napolitano Homes, a Hampton Roads, Va., based builder with a strong reputation of building quality homes in the region.
In back from left to right, John Napolitano, Vince Napolitano, Theresa Napolitano, Fred Napolitano II, and Eastwood Homes President Clark Stewart. Seated in front, from left to right, Napolitano Homes Founder Fred Napolitano Sr. and Eastwood Homes Founder Joe Stewart.
This acquisition will position the holdings of Charlotte, NC-based Eastwood Homes in the thriving Hampton Roads area, which includes Chesapeake, Franklin, Hampton, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, and Williamsburg and the counties of Gloucester, Isle of Wight, James City, Mathews, Southampton, Surry*, and York. This area is growing in population and is the eighth-largest metro area in the Southeast United States, and the second-largest between Atlanta and Washington, DC.
This expansion marks Eastwood Homes’ 10th division and second in the Virginia market. Leadership at Eastwood Homes cited the strong foundation and culture that Napolitano Homes has built and how well that fits with the Eastwood Homes philosophy of doing business as a big factor in the decision to move forward with the partnership.
“The fit was perfect for us,” said Eastwood Homes President Clark Stewart. “Napolitano Homes prioritizes family first right alongside their dedication to quality craftsmanship of their homes, and that is exactly how we do business here at Eastwood Homes. It was an easy decision to make, and one that I am very proud and excited to be a part of.”
Napolitano Homes has been operating as a family-owned builder in the Hampton Roads, Va., area since 1977. Founded by Fred Napolitano Sr. and his son Vince, Napolitano Homes prides itself on its family roots with sons Fred II and John and daughter Terri on the team as well as a third generation of Napolitano’s working alongside their fathers. The employees are considered family as well with many who have been working with the builder for decades. Zelman & Associates served as the exclusive sell-side financial advisor to Napolitano Homes.
Eastwood Homes also prides itself on being a privately held, family-owned builder with more than a third of its employees having more than 10 years tenure at the company. Founded in 1977 by Joseph Stewart, the company is now run by the elder’s son and Eastwood Homes President Clark Stewart.
Eastwood Homes operations include its headquarters in Charlotte, as well as division offices in the Raleigh/Durham and Greensboro markets of North Carolina; Charleston, Greenville, and Columbia markets of South Carolina; the greater Richmond market of Virginia; and the greater Atlanta market of Georgia. Eastwood’s operations are throughout the Southeast United States with more than 140 communities in these areas and the option to “Build on Your Lot” in the Charlotte, Raleigh, Greenville, and Charleston markets.
For more information on Napolitano Homes, please visit www.napolitanohomes.com. For more information on Eastwood Homes, please visit www.eastwoodhomes.com.
SOURCE Eastwood Homes
