The Pacific's 76 residences include flats, two-story penthouses and three-bedroom townhouses in San Francisco.
SAN RAMON, CA—Trumark Companies has entered into an agreement with Daiwa House USA Inc., a wholly owned subsidiary of Japan-based Daiwa House Industry Co. Ltd., whereby Daiwa House USA will acquire 60% of the equity interest in Trumark and will commit to make additional capital contributions as funding to further develop Trumark's business. Under the new agreement, Trumark's co-founding principals Michael Maples and Gregg Nelson will retain their current roles as part owners and lead the company as co-CEOs.
The terms of the ownership transaction are undisclosed. Daiwa House Industry Co. Ltd. is Japan's largest homebuilder and one of the world's largest public companies. Daiwa House USA is pursuing a strategic initiative to expand the company's business in North America, which began through a joint venture agreement with Lincoln Property Group in 2014 and the acquisition of Stanley Martin, an East Coast homebuilding company in 2017.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
