Forest Hill, MD…Gemcraft Homes has just announced the acquisition of the homebuilding assets of CDG Homes of Shrewsbury, Pennsylvania. The purchase price was paid in cash for an undisclosed amount.

CDG Homes has built in excess of 2,000 homes since 1989 in multiple locations in the Greater Harrisburg, Pennsylvania area. They currently build at four communities in the York area and one community in the Lancaster area at prices ranging from the upper $100’s to the $300’s. In 2005 they built over 150 homes in these affordable price ranges.

The acquisition includes a number of homes in backlog and over 200 building lots, with options on over 1,000 additional lots. Bill Luther, CEO of Gemcraft Homes, commented, “This acquisition provides our company with a greater presence in Harrisburg and York County, Pennsylvania. CDG Homes’ philosophy of building high quality, affordably priced homes fits well with Gemcraft Homes’ strategic positioning in the market.”

Gemcraft Homes is one of the Mid-Atlantic region’s largest and fastest growing homebuilders. Currently active in Maryland, Delaware, Pennsylvania, Virginia and West Virginia, Gemcraft Homes currently builds at over 40 communities and features a broad variety of townhomes and single family homestyles to fit every taste and budget. In line with their slogan, “Building Dreams One Home At A Time,” they are renowned for value to spare on the right communities and homes for every budget and lifestyle.

Additionally, Gemcraft Homes has acquired the beautiful community of Barklay Estates in Selbyville, Delaware. In Bill Luther’s words, “We are always interested in assisting banks and developers in working out their asset pools, especially when it enables us to gain a desirable community like Barklay Estates.”