Expansion of Strategic Partnership between Brookfield Residential and NASH
Brookfield Residential and North America Sekisui House (NASH) are excited to announce a significant expansion in their strategic partnership, unveiling an impressive investment totaling approximately $1.6 billion. This partnership has reached a new level by investing in five additional master-planned communities (MPCs), showcasing their commitment to residential land development and delivering exceptional communities.
Portfolio Growth and Market Presence
The recent developments bring the combined total real estate assets of Brookfield Residential and NASH in the U.S. to around $1.6 billion. Today, they manage a portfolio with approximately 30,000 single-family lots, which further solidifies their dominance in the market. This expansion strategically positions them within burgeoning markets such as Austin, Phoenix, and Denver, enhancing their reach even further.
Enhancing Geographic Diversity
This expanded collaboration allows NASH and Brookfield Residential to broaden their geographic footprint significantly. The partnership now spans 11 states and covers 13 markets, which currently generate nearly 50% of new single-family permits in the nation. Such an extensive presence enables them to address the evolving needs of homebuyers and builders alike.
Focus on Sustainable Communities
Brookfield Residential and NASH are poised to create vibrant, high-quality planned communities across the United States. Their joint efforts historically emphasize sustainability, innovation, and long-term value creation in the residential land sector. This enhanced partnership signifies a strong commitment to delivering sustainable growth and excellence in residential development.
Leadership Insights
Hiroaki Takahama, Chief Executive Officer of NASH, expressed excitement about their partnership, stating, "This milestone investment reflects our dedication to delivering exceptional communities that enhance the quality of life for our residents. By deepening our partnership with Brookfield Residential, we are paving the way for sustainable growth and setting new benchmarks for residential development in the United States."
Adrian Foley, President and Chief Executive Officer of Brookfield Residential, added, "We are thrilled to expand our partnership with NASH. Together, we have an incredible portfolio of land assets to work on, and the master-planned communities are among the finest in the nation as we witness our combined business flourish."
Addressing Housing Demand
Brookfield Residential and NASH's partnership brings forth a significant increase in the number of home sites available to builders, ensuring a solid pipeline for future development. The collaboration focuses on meeting the growing housing demand in key markets, thereby enhancing the ability to offer strategic opportunities and sustained value to all stakeholders.
About Brookfield Residential
Brookfield Residential Properties ULC is recognized as a leading land developer and homebuilder in North America. Their operations encompass land entitlement and development to create master-planned communities alongside selling lots to third-party builders. The company is also actively involved in its homebuilding operations. Under the umbrella of Brookfield Corporation (NYSE: BN), a global alternative asset manager, Brookfield Residential remains steadfast in its commitment to excellence in residential development.
About North America Sekisui House (NASH)
North America Sekisui House, LLC (NASH) is the U.S. arm of Sekisui House, Ltd., one of the largest homebuilders globally known for its commitment to sustainable residential development. Since their entry into the North American market in 2010, NASH has effectively combined thoughtful design with environmental responsibility. Headquartered in La Jolla, California, NASH collaborates with leading local developers to deliver energy-efficient homes across the United States.
Frequently Asked Questions
What is the recent investment by Brookfield Residential and NASH?
The recent investment by Brookfield Residential and NASH amounts to $1.6 billion, aimed at expanding their strategic partnership and portfolio.
How many master-planned communities are involved in this expansion?
The expansion involves five master-planned communities that NASH has invested in alongside Brookfield Residential.
Which states are covered by this partnership?
The partnership now spans 11 states and 13 markets that generate approximately 50% of single-family permits.
What commitment does NASH express towards sustainability?
NASH emphasizes its commitment to creating sustainable communities through innovation and thoughtful design in residential development.
How does this partnership impact housing availability?
This partnership significantly improves the number of home sites available for builders, addressing the rising demand for housing in key markets.
