Daiwa House USA’s Initiative Looks to Expand Trumark
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.
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.