OSAKA, Japan and VANCOUVER, Wash., Jan. 20, 2022 /PRNewswire/ -- SEKISUI HOUSE, LTD., Japan's largest homebuilder and leading diversified developer announced today that its wholly-owned U.S. subsidiary SEKISUI HOUSE US HOLDINGS, LLC has acquired The Holt Group ("Holt" or the "Company") in a strategic transaction.
As one of the largest private homebuilders and land developers in the Pacific Northwest, Holt primarily serves first time and move-up homebuyers, both of which are rapidly growing segments in residential real estate. Today, the Company owns and controls over 5,000 lots and closed 695 homes in 2021.
The transaction with Holt firmly establishes SEKISUI HOUSE as a leader in U.S. homebuilding and the development of master-planned communities. As part of SEKISUI HOUSE, Holt will have access to capital and technology that will allow it to accelerate its growth plan and enhance its ability to serve its growing customer base.
"We are excited to partner with Holt to capitalize on compelling opportunities in the U.S. housing market, particularly, in the Pacific Northwest," said Hiroaki Takahama, CEO, SEKISUI HOUSE US HOLDINGS. "Holt has built a first-rate land position and is poised to become the dominate residential real estate player in the region, which is one of the fastest growing housing markets in the U.S. We will work together to exchange creative ideas that create value and address the increasingly complex needs of the individual homeowner."
The addressable market in the Pacific Northwest is large as the need for housing grows. Over the last decade, population growth in the Portland metro area has outpaced the country by nearly 2x, while building permits have trailed the long-term average in Portland by more than 20% over the same period.
Greg Kubicek, Chief Executive Officer of Holt, stated, "We are immensely proud of our longstanding reputation as a leading land investor, developer and homebuilder in the Pacific Northwest. As we embark on our next chapter of growth, we looked to establish a partnership that could help us bring more homes to the area with additional capital and access to innovative resources. SEKISUI HOUSE is a partner that understands and supports our commitment to the region, the strength of our team and our ambitions to advance our business. Specifically, SEKISUI HOUSE brings an established commitment to technology and cutting-edge building practices. This, combined with robust financial resources, ensures we can offer a truly differentiated product and experience to customers."
The Holt Homes brand, management team, and Pacific Northwest headquarters and commitment to the community remain intact.
Hearthstone and Morrison & Foerster advised SEKISUI HOUSE on the transaction; and Moelis & Company and Paul, Weiss, Rifkind, Wharton & Garrison advised The Holt Group.
About SEKISUI HOUSE, LTD.
Founded in 1960, SEKISUI HOUSE, LTD. is one of the world's largest homebuilders and an international diversified developer. Based in Osaka, Japan, SEKISUI HOUSE also operates in the United States, China, Singapore, Australia, and the United Kingdom, and has over 300 consolidated subsidiaries and affiliates1, over 28,000 employees2 and is listed on the Tokyo Stock Exchange and Nagoya Stock Exchange.
SEKISUI HOUSE aims to create homes and communities that improve with time and last for generations, and SEKISUI HOUSE believes that homes should offer comfort, security and peace of mind for residents, while maintaining harmony with the environment and its surroundings. SEKISUI HOUSE is now the global leader in the construction of net-zero-energy homes.
*1 ; 303 consolidated subsidiaries and affiliates (As of July 31, 2021)
*2 ; 28,013 employees (As of January 31, 2021)
About The Holt Group
The Holt Group is based in Vancouver, Washington, and is one of the largest private homebuilders and land developers in the Pacific Northwest. Deeply rooted in the local community, Holt works every day to build affordable quality and lasting value into new homes for families who love living in the Pacific Northwest, primarily serving the fast growing first time and move-up homebuyer segments. www.holthomes.com
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SOURCE SEKISUI HOUSE, LTD.