Paul Hastings, a leading global law firm, announced today that it has advised North America Sekisui House, LLC (“NASH”), the wholly-owned subsidiary of Sekisui House, Ltd – Japan’s largest homebuilder and a leading diversified developer, in its acquisition of the largest operating portfolio of residential master-planned communities in the United States. The acquisition was made through a new joint venture between NASH and Newland Real Estate Group LLC (“Newland”), a national real estate development company based in San Diego, California.
The purchase of the interests of the California Public Employees’ Retirement System and American Newland Communities LP marks the third and largest acquisition NASH and Newland have made together over the past 16 months. Through a joint venture in August 2010, they acquired land adjacent to Newland’s Cinco Ranch in Houston, Texas and in March 2011 they acquired land in the Seattle/Tacoma metro area of Pierce County, Washington.
Paul Hastings advised on all three acquisitions and has supported NASH over the years on their expansion plans, helping them gain a foothold in the U.S. property market.
The Paul Hastings team was led by partners Josh Isenberg and Derek Roth, with support from partner Tom Mounteer, Of Counsel Michael Bradford and associates Edgar Khalatian, Antonella Castro and Joshua Bird.
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