Daiwa House Launches Fifth U.S. Joint Real-estate Project with Lincoln Property Company

OSAKA, Japan, Sept. 1, 2017 /PRNewswire/ --

- Daiwa House's First Rental Housing Development Project on U.S. West Coast near Seattle, Washington -- Esterra Park Project -

On August 11, 2017, Daiwa House Industry Co., Ltd. began construction of rental housing on two blocks of the Esterra Park Project. The project, located in the Overlake region of Redmond, Washington, near Seattle, is Daiwa House's first rental housing project on the U.S. West Coast.

Image: Project exterior view (planned concept)
http://prw.kyodonews.jp/prwfile/release/M000427/201708305146/_prw_PI1fl_z76OTn49.jpg

This project, to be conducted through its local subsidiary, Daiwa House Texas Inc., represents its fifth development project with Lincoln Property Company, a major U.S. real estate company.

The Esterra Park Project is the first mixed-use redevelopment project in the Overlake region of Redmond. Comprised of 10 blocks with a site area of approximately 28 acres, two of those blocks will be developed by Daiwa House (rental housing with a site area of approximately 4.57 acres). The project also includes offices, commercial facilities, a hotel, parks, and more.

Key data:

1. Rental housing development project featuring a total of 664 units
2. Development project located close to numerous IT companies in suburban Seattle
3. Targeting middle- to high-income Millennials

For details, please visit
https://prw.kyodonews.jp/prwfile/release/M000427/201708305146/_prw_PA1fl_fwGO3Hf2.pdf

About Daiwa House Texas Inc.
Address: 222 W Las Colinas Blvd, Suite 1540 East, Irving, TX 75039
Investor: Daiwa House USA Inc.
*A wholly owned subsidiary of Daiwa House Industry Co., Ltd.
Capital: $208,762,000
Employees: 11 (five on assignment from Daiwa House Industry)

About Daiwa House Industry Co., Ltd.
Head office: Osaka, Japan
President: Naotake Ohno
Website: https://www.daiwahouse.co.jp/English/index.html

SOURCE Daiwa House Industry Co., Ltd.