Japan’s Daiwa House Joins Trumark Companies for California JV

Daiwa House USA Inc. has acquired a 60% equity interest in developer Trumark Companies, a homebuilding platform that has delivered more than 8,000 residential lots in California since the company’s founding in 1988. Trumark’s co-founders, Michael Maples and Gregg Nelson, will remain vested as owners and lead the company as co-CEOs.

Daiwa House is Japan’s largest homebuilder and one of the world’s largest public companies. This agreement expands the company’s North American presence, following agreements with Lincoln Property Group in 2014 and Stanley Martin, an East Coast homebuilding company, in 2017.

“Our firm recognizes California as an important market as a part of our North American growth strategy,” said Nobuya Ichiki, president at Daiwa House USA. “Development in this state can be challenging and we look forward to working with Trumark and leveraging its track record and unique ability to navigate the complexities of development to achieve our expansion objectives.”

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