US homebuilder North America Sekisui House (NASH) has strengthened its partnership with Brookfield鈥檚 North American residential property business through an investment in its master-planned communities (MPCs).
NASH is investing in five Brookfield Residential MPCs, bringing the partnership鈥檚 total US real estate assets to approximately $1.6bn (鈧�1.47bn), comprising 30,000 single-family lots under management.
The latest deal expands the partnership鈥檚 combined portfolio into regions including Austin, Phoenix, Denver and Northern California, adding to their nine existing markets. The partnership now operates in 11 states and 13 markets.
Hiroaki Takahama, CEO of NASH, said: 鈥淭his milestone investment reflects our dedication to delivering exceptional communities that enhance the quality of life for our residents.
鈥淏y deepening our partnership with Brookfield Residential, we are paving the way for sustainable growth and setting new benchmarks for residential development in the US.鈥�
Adrian Foley, president and CEO of Brookfield Residential, said, 鈥淲e are thrilled to expand our partnership with NASH. We have an incredible portfolio of land assets to work on together. The master-planned communities represent some of the finest in the country and it is exciting to see our combined business grow.鈥�
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