OREANDA-NEWS. Daiwa House Industry Co., Ltd., in collaboration with Lincoln Property Company (hereafter LPC) which manages the third largest number of rental properties in the U.S., will start developing and managing a rental apartment complex Berkeley Project) in April 2014.

To further collaborate in rental apartment development and management, Daiwa House and LPC have agreed to enter into a strategic partnership through a Memorandum of Understanding.

A signing ceremony was held on March 3, 2014 at the U.S. Embassy in Tokyo. Looking ahead, Daiwa House, through its U.S. subsidiary Daiwa House California, plans to purchase and develop 150 billion yen worth of rent al properties during the three years from 2014 to 2016, and aims to achieve revenues of 50 billion yen in the U.S. by fiscal year 2018.

In addition, Daiwa House will enter the distribution warehouse and subdivision housing market in the U.S. and will expect to reach 100 billion yen in total overseas sales by fiscal year 2015 by drawing on new revenue sources including U.S. real estate projects.