Stanley-Martin, parent company buy back $23.91 million in senior subordinated notes

By Devika Patel

Knoxville, Tenn., March 26 - Stanley-Martin Communities, LLC announced that, during the first quarter, it bought back $7.39 million of its outstanding senior subordinated notes and its parent, Neighborhood Holdings, LLC, bought $16.52 million of the company's outstanding senior subordinated notes.

The notes bought by Stanley-Martin will be retired, while the ones bought by Neighborhood Holdings will be held for investment income.

Stanley-Martin is a Reston, Va.-based homebuilder.

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