• Home
  • Contact Us
  • Our Team
Wednesday, June 29, 2022
Unique Homes
  • For Sale
  • Blog
    • News
    • Lifestyles
    • Locations
    • Features
  • Magazines
    • Unique Homes
    • Homes & Estates
    • Keller Williams Luxury
    • Luxury Collection of Florida
    • Luxury Portfolio International
    • Luxury Real Estate
    • Prestige
    • Unique Homes China
    • Distinctive Properties
    • Domain
  • The High End
    • The High End
  • Homes
  • Agents
  • Contact Us
    • Our Team
    • Advertise With Us
    • Subscribe
No Result
View All Result
Unique Homes
  • For Sale
  • Blog
    • News
    • Lifestyles
    • Locations
    • Features
  • Magazines
    • Unique Homes
    • Homes & Estates
    • Keller Williams Luxury
    • Luxury Collection of Florida
    • Luxury Portfolio International
    • Luxury Real Estate
    • Prestige
    • Unique Homes China
    • Distinctive Properties
    • Domain
  • The High End
    • The High End
  • Homes
  • Agents
  • Contact Us
    • Our Team
    • Advertise With Us
    • Subscribe
No Result
View All Result
Unique Homes
No Result
View All Result

Real Estate Company to be Acquired by Sumitomo Forestry America, Inc.

by Unique Homes Staff
June 5, 2018
0
Live Like an Artist in Palmetto Bluff
Share on FacebookShare on Twitter

Crescent Communities’ acquired businesses will remain headquartered in Charlotte, North Carolina, under its existing management team.

Crescent Communities, LLC, a residential and commercial real estate company, and Sumitomo Forestry America, Inc., a comprehensive housing and wood products corporation and a wholly-owned subsidiary of Sumitomo Forestry Co., Ltd., announced the signing of a definitive agreement under which Crescent Communities’ three key businesses will be acquired by Sumitomo. The transaction is expected to close by the end of June.

“We are excited to partner with Sumitomo as their investment will continue Crescent Communities’ growth strategy and enhance our capital structure,” says Todd Mansfield, the chief executive officer of Crescent Communities. “This acquisition is evidence of Sumitomo’s favorable view of our multi-product platform and geographic footprint in high growth markets. We look forward to leveraging their extensive real estate expertise, financial strength and global network to support our ongoing commitment to unleash value for all stakeholders.”

 

Masons Bend’s Amenity Center

“We have been pursuing further expansion of our U.S. real estate business and the acquisition of Crescent Communities is a perfect fit with our investment philosophy,” says Atsushi Iwasaki, the president of Sumitomo Forestry America, Inc. “With favorable demographics, including outsized employment growth, Crescent Communities’ markets are well positioned to support healthy long-term real estate fundamentals.

The acquired business will take the Crescent Communities’ name and remain headquartered in Charlotte, North Carolina, under the existing management team led by Todd Mansfield, Chief Executive Officer. Palmetto Bluff, the acclaimed 20,000-acre resort community with a Montage branded hotel located in Bluffton, South Carolina, will be retained by Crescent Communities’ existing owners, with the local management team continuing in their roles and David O’Donoghue continuing to serve as president.

The new light rail by NOVEL NoDa and NOVEL at Providence Farm

Sumitomo Forestry America, Inc. will acquire Crescent Communities’ multifamily, single family and commercial and mixed use businesses. Crescent Communities’ multifamily business, operating under the “NOVEL by Crescent Communities” brand, includes 20 communities in development and/or operations, totaling approximately 6,400 units. The company’s Fielding Homes single family home building business includes over 1,700 single family lots across 6 communities in Charlotte and Raleigh-Durham, North Carolina.

The commercial and mixed use business development portfolio includes nearly 1.5 million square feet of assets, including the recently announced 742,000 square foot Ally Charlotte Center project in Charlotte, North Carolina. In addition, Sumitomo Forestry America, Inc. is also acquiring Crescent Communities’ development pipeline of nearly $2 billion of real estate projects, including 5,500 multifamily units, 2,200 single family units and 2.5 million square feet of office and industrial assets.

Masons Bend

Photos courtesy of Crescent Communities

Tags: agreementAquisitionCompany Acquisitionhousingnorth carolina real estatePalmetto BluffReal Estatereal estate companywood products
Unique Homes Staff

Unique Homes Staff

Related Posts

Design

Car-Free Communities

December 14, 2021
Company Spotlight

Custom Gulf-front Home in Casey Key, Florida up for Auction

February 18, 2021
Under Pressure
Destinations

Under Pressure

January 13, 2021
Under Pressure
Features

Under Pressure

December 11, 2020
Join Unique Homes for a Free Session on What You Need to Know Now
Ads

Join Unique Homes for a Free Session on What You Need to Know Now

December 3, 2020
News

Rise to the Top

April 21, 2020
Next Post
Luxury Developments Embrace Outdoor Dining

Luxury Developments Embrace Outdoor Dining

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Posts

Fogo Island

Traveling by Design

June 23, 2022
Angel Investing 101

Angel Investing 101

June 15, 2022
A Night Out

A Night Out

June 10, 2022
Miami’s Arsht Estate

Miami’s Arsht Estate

June 6, 2022
Fast Yet Fashionable

Fast Yet Fashionable

June 3, 2022

Category

  • Ads (48)
  • Agent Spotlight (39)
  • Agents (63)
  • Art (25)
  • Decor (64)
  • Design (111)
  • Destinations (63)
  • Fabulous Florida (5)
  • Fashion (8)
  • Featured Property (63)
  • Features (241)
  • Food (4)
  • Furniture (1)
  • Gift (11)
  • Gift guide (5)
  • Inspiration (3)
  • Lifestyles (394)
  • Locations (502)
  • Luxury Property (34)
  • News (591)
  • Press Release (15)
  • Property Spotlight (65)
  • Real Estate News (34)
  • Showcase Homes (21)
  • Ultimate Properties (4)
  • Uncategorized (108)
  • Wellness (7)
  • Home
  • Contact Us
  • Our Team
Call us: 1-833-928-9020

© 2022 Copyright by UniqueHomes.com™. All rights reserved. - Privacy Policy

No Result
View All Result
  • For Sale
  • Blog
    • News
    • Lifestyles
    • Locations
    • Features
  • Magazines
    • Unique Homes
    • Homes & Estates
    • Keller Williams Luxury
    • Luxury Collection of Florida
    • Luxury Portfolio International
    • Luxury Real Estate
    • Prestige
    • Unique Homes China
    • Distinctive Properties
    • Domain
  • The High End
    • The High End
  • Homes
  • Agents
  • Contact Us
    • Our Team
    • Advertise With Us
    • Subscribe

© 2022 Copyright by UniqueHomes.com™. All rights reserved. - Privacy Policy