Sekisui House agreed to buy Chesmar Homes, a Texas builder that delivered 2,082 homes in 2021, together with its mortgage, title and insurance affiliates. The price was about $514 million, about ¥68.7 billion. Chesmar builds in the Houston, Dallas–Fort Worth, Austin and San Antonio areas. The deal On June 9, 2022, Sekisui House said its US holding company would buy Chesmar Homes from its parent, Chesmar Group, for about $514 million, or about ¥68.7 billion. The purchase also covered Chesmar's mortgage lender CLM Mortgage, its title company N Title and the insurer Entitled Insurance. The price was an estimate at signing and could change with closing adjustments. About Chesmar Chesmar builds single-family homes in the four largest Texas metro areas. It closed 2,082 homes in 2021 and owned or controlled more than 6,000 lots. Its parent's Japanese filing showed sales of about ¥108 billion (roughly $810 million) for 2021. Strategy Before the deal Sekisui House built homes in Utah, California, Arizona, Nevada, Oregon and Washington, mostly through Woodside Homes, Holt Homes and Hubble Homes. Chesmar took it into Texas and four of the six largest US housing markets, toward its goal of 10,000 homes a year outside Japan. Timeline The homebuilding company was acquired on July 1, 2022, and the mortgage and title companies on December 30, 2022. Morrison & Foerster advised Sekisui House. What to watch Sekisui House went on to buy M.D.C. Holdings for $4.9 billion in 2024, making it one of the largest builders in the US. How it combines its Texas, Western and M.D.C. businesses, and how US interest rates affect demand, will shape the results.
