Sekisui House, Ltd., and Newland Real Estate Group, LLC, last week announced agreements of acquiring commercial and residential real estate development projects in the U.S.
Newland and Sekisui House announced their joint venture acquired 492 acres of undeveloped land in west Houston for the expansion of Cinco Ranch, Newland’s top-selling, master-planned community. Planned for over 1,200 new homes, this expansion of Cinco Ranch will be delivered in approximately three years as the community’s final southwest neighborhoods are completed.
Japan’s largest home builder and leading diversified developer has advanced their entry into the U.S. real estate market through this joint venture with Newland, a national diversified real estate company. Sekisui House formed its 100 percent subsidiary, North America Sekisui House, LLC, (NASH) to manage U.S. business operations, including this joint venture with Newland.
“Newland and Sekisui House share a commitment to creating well-planned, sustainable communities that will thrive for decades to come,” said Robert McLeod, chairman and CEO of Newland. “Our teams look forward to leveraging our local and regional expertise to acquire and develop high quality real estate projects with Sekisui House across the nation going forward.”
Isami Wada, Chairman and CEO of Sekisui House, said, “Our technologies developed through advanced, environmentally conscious community development projects in Japan, are expected to be a valuable contribution to community developments in the U.S. We look forward to utilizing our knowledge and experience as the provider of the largest number of residential lots in Japan, within this attractive community, and to expanding our business in the U.S. through this quality joint venture with Newland.”
Newland is known for its commitment to creating healthy, enduring communities across the U.S. The expansion to Cinco Ranch will be created using sustainable development practices and with concern for the natural environment. Sekisui House brings their practices and knowledge in developing sustainably conscious communities in Japan to the Cinco Ranch expansion project integrating both companies’ environmentally conscious development philosophies.
Located 32 miles west of downtown Houston, Cinco Ranch first opened with new homes for sale in 1991. Over the past ten years, the community has consistently been rated among the top five best-selling communities in the Houston area. In 2009, Cinco Ranch was the No. 1 best-selling planned community in the U.S. according to RCLCO, a Washington, DC, real estate advisory firm.
The 492-acre expansion is located on the east side of farm road FM 1463 at Corbitt Road in northwest Fort Bend County. With this expansion, Cinco Ranch now totals 8,092 acres and is expected to have more than 14,000 homes at build-out.