HOUSTON – (Realty News Report) – Sekisui House, a major home builder in Japan, is acquiring Houston-based Chesmar Homes for $514 million.
Chesmar Homes, led by CEO Don Klein, sold 2,082 homes last year and reported net sales of $810 million.
A significant builder across the Lone Star State, Chesmar builds in over 70 master planned communities in Houston, San Antonio, Austin and Dallas, including 23 communities in Houston.
With Dallas and Houston reigning as the top two home construction markets in the nation, Sekisui House gains a large Texas bootprint with the Chesmar acquisition. San Antonio leads in the nation in population growth, while Austin is gaining thousands of jobs and becoming a mecca for tech firms.
“Chesmar Homes has been the adventure of my life,” said Don Klein, who led Lennar’s operations in Houston before founding Chesmar Homes in 2005. He was president of the Greater Houston Builders Association in 2018 and was GHBA Humanitarian of the Year.
“It has been extremely rewarding to watch our people (“Chesmarians”) and the company grow,” Klein said. “We look forward to being part of Sekisui House’s collection of companies and supporting its goal of creating over 10,000 happy customers annually in its international markets.”
Sekisui House has an established presence in the U.S. housing market through its acquisitions of Woodside Homes Company, LLC in 2017 and Holt Group Holdings, LLC in 2021, delivering over 3,400 homes in 2021, and expanding operations across Utah, California, Arizona, Nevada, Oregon and Washington.
Sekisui House plans to acquire an interest in Chesmar Homes on July 1, 2022. The acquisition of i222terests in CLM Mortgage, Inc. and N Title, Inc. is expected to be executed following approvals by administrative and tax authorities and close on December 30.
Founded in 1960, Sekisui House, Ltd. is one of world’s largest homebuilders and an international diversified developer, selling 2.5 million homesover the years. Sekisui House has over 28,000 employees and is listed on the Tokyo Stock Exchange and Nagoya Stock Exchange.
In 2009, Sekisui House expanded into several new international markets and now operates in the United States, China, Singapore, Australia and the United Kingdom.
June 14, 2022 Realty News Report Copyright 2022
File: Houston’s Chesmar Homes Acquired by Japanese Builder for $514 Million
Photo by Ralph Bivins Realty News Report Copyright 2022
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File: Houston’s Chesmar Homes Acquired by Sekisui House of Osaka, Japan.