Sekisui House’s Acquisition of Chesmar Homes

Paul, Weiss, Rifkind, Wharton & Garrison and Krage & Janvey advised the Chesmar Group on the deal. Morrison & Foerster advised Sekisui House.

Chesmar Group, Inc., a Texas-based single-family homebuilder, executed the sale of its operating company, Chesmar Homes, LLC, and two financial services companies to the U.S. subsidiary of Sekisui House, Ltd., Japan’s largest homebuilder. The deal, announced on June 9, is expected to close later this year. Financial terms were not disclosed.

Founded in 1960, Sekisui House, Ltd. is one of world’s largest homebuilders and an international diversified developer, with cumulative sales of over 2.5 Million homes. Based in Osaka, Sekisui House has over 300 consolidated subsidiaries and affiliates, over 28,000 employees and is listed on the Tokyo Stock Exchange and Nagoya Stock Exchange. 

Chesmar is a leading developer of single-family homes in Texas, with operations in Houston, San Antonio, Austin and Dallas – Fort Worth. The company owns and controls over 6,000 lots and closed 2,082 homes in 2021. Chesmar, additionally, offers mortgage and title services through its subsidiaries, CLM Mortgage Inc. and N Title Inc. Chesmar delivered consolidated net sales of approximately $810 million in 2021. 

The Paul, Weiss team included corporate partner Jeffrey Marell (Picture) and counsel Erika Cohen; tax partner Robert Holo; executive compensation partner Rebecca Coccaro and counsel Lisa Krausz Eisenberg; intellectual property partner Claudine Meredith-Goujon; real estate partner Peter Fisch; environmental counsel William O’Brien; international trade counsel Richard Elliott; and antitrust counsel Marta Kelly.

The cross-office, interdisciplinary MoFo team is led by Tokyo Corporate partner Randy Laxer and Real Estate partner Josh Isenberg, and supported by Tokyo associates Adam Harris, Max Sternberg, Matthew Blair, Ani Hamparsumyan, and Ning Ning, as well as Los Angeles associates Joseph Gillman and Brian Kwak.

Involved fees earner: Matthew Blair – Morrison & Foerster; Joseph Gillman – Morrison & Foerster; Ani Hamparsumyan – Morrison & Foerster; Adam Harris – Morrison & Foerster; Joshua Robert Isenberg – Morrison & Foerster; Brian Kwak – Morrison & Foerster; Randy Laxer – Morrison & Foerster; Ning Ning – Morrison & Foerster; Max Andrew Sternberg – Morrison & Foerster; Rebecca Coccaro – Paul Weiss Rifkind Wharton & Garrison; Erika Cohen – Paul Weiss Rifkind Wharton & Garrison; Richard Elliott – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Robert Holo – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Lisa Krausz Eisenberg – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Morrison & Foerster; Paul Weiss Rifkind Wharton & Garrison;

Clients: Chesmar Group; Sekisui House;