With the acquisition of a homebuilder in Southlake, a major Japanese homebuilding company is making an entrance into the United State.
Southlake-based Impression Homes announced Dec. 20 it has entered into an agreement to sell 51 percent of the company to Misawa Homes America Inc., a subsidiary of Misawa Homes Co. Ltd. of Japan.
MHAM plans to purchase the company in full over time, according to a news release from Impression Homes.
Since beginning operations 10 years ago, Impression Homes has experienced impressive growth and is on pace to close over 580 homes in 2018, representing a 40 percent growth over the prior year. With 80 experienced team members, 27 active communities and 1,600 lots under its control located throughout Dallas-Fort Worth, Impression Homes is well positioned to continue to grow its market share in DFW, according to the news release.
“Looking forward, the Impression Homes team and I will continue to manage the business with the same values the company was built on,” said Bruce Heikkinen, president and co-founder of Impression Homes. “The company’s commitment to quality, value, customer satisfaction and long-term vendor partnerships will continue to be our highest priority. While the acquisition will not affect the day to day operations of Impression, the partnership with MHAM will enhance our ability to continue to increase our land and lot positions and enter into new markets in Texas in the future.”
Impression Homes offers a portfolio of innovative house plans ranging from 1,500 square feet to 3,800 square feet and has established themselves in the affordable first-time buyer market as well as the move-up buyer market, according to the news release.
Misawa Homes Co, Ltd., was established in 1967, currently has more than 8,000 employees and is one of Japan’s premier homebuilders. In addition to its strong presence in Japan, Misawa currently has homebuilding operations in Australia. The partial acquisition of Impression Homes provides Misawa an entry into the United States homebuilding market.
