Global project and cost management consultancy MGAC has acquired Stonemark Construction Management, a full-service construction management firm for high-end residences and luxury home projects. The acquisition grows MGAC’s active Luxury Living practice, focused on delivering complex, architecturally distinct residences across the U.S. and Europe.
Since expanding to the United Kingdom in 2021, Washington, D.C.-based MGAC has seen more than 50% growth across its European and North American teams, with more than 345 professionals serving a full range of clients from the firm’s 10 offices. The firm’s Luxury Living practice delivers estate-quality, single-family homes and manages, from project conception to move-in, projects that are deeply personal for clients and their families.
“Our Luxury Living team has quickly developed an international reputation for bringing the standards, project discipline, and discretion of professional, state-of-the-industry commercial project management practices to bear on the singular homes and estates of a discerning and private clientele,” said Mark Anderson, president and CEO, MGAC. “With its stellar reputation for bringing owners’ ideas to fruition, Stonemark enables MGAC to expand our range of services and dive deeper into the projects with which our clients entrust us.”
Founded in 1997, Stonemark specializes in ultra-upscale homes and residential estates, particularly complex, multi-layered projects. The firm’s team brings a seasoned combination of technical, cost management, technology, negotiation and communication experience, delivering high-level supervision, risk and cost management, and architect and project team control. The firm has built a track record of reducing construction time and costs through an integrated approach and has worked on internationally renowned projects, such as Hill House Montecito and the William Hefner and Jamie Bush-designed mid-century Regency Estate, among many others across North America.
“Integrating our singularly focused, high-end residential construction management expertise with the MGAC team is a natural fit,” said Bart Mendel, Stonemark’s president. “We are aligned in our meticulous, client-centric approach to every project, and our complementary services and capabilities advantageously position us to expand our boutique services in the luxury living sector.”
