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MoFo Advises Sekisui House on Acquisition of Chesmar Homes

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MoFo is representing Sekisui House, Ltd., Japan’s leading homebuilder and diversified developer, in its announced acquisition of U.S. homebuilder Chesmar Homes, LLC., a leading developer of single-family homes in Texas, with operations in Houston, San Antonio, Austin, and Dallas – Fort Worth.



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MoFo is representing Sekisui House, Ltd., Japan’s leading homebuilder and diversified developer, in its announced acquisition of U.S. homebuilder Chesmar Homes, LLC., 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. The transaction is expected to complete in two stages, with an initial closing for Chesmar’s homebuilding business, on July 1, 2022 and second closing for Chesmar’s mortgage and title services businesses, on December 30, 2022. The estimated purchase price is expected to be approximately $514 million.The cross-office, interdisciplinary MoFo team advising on the acquisition of Chesmar Homes was led by Tokyo Corporate partner Randy Laxer and Real Estate partner Josh Isenberg, and with assistance from Tokyo associates Adam Harris, Max Sternberg, Matthew Blair, Ani Hamparsumyan, and Ning Ning, as well as Los Angeles associates Joseph Gillman and Brian Kwak.

MoFo Advises Sekisui House on Acquisition of Chesmar Homes

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Randy Laxer is the Co-Head of the Asia M&A/PE Practice. His experience includes over 20 years in Japan representing clients on numerous Japan private equity buyouts and investments, cross-border mergers and acquisitions, international joint ventures, and minority investments in various industries, including high technology, life sciences, and media.Randy has been selected as one of “Asia’s Top 15 M&A Lawyers” by Asian Legal Business and also is recommended for his M&A and corporate law expertise by Chambers Global (2026), Chambers Asia-Pacific (2026), IFLR1000 (2025), and The Legal 500 Asia Pacific (2026). Client comments about Randy include the following:“Randy is a seasoned operator in the M&A and general corporate space, who can guide you through the most complex transactions down to the easiest.” (Chambers Asia-Pacific)“He is very professional and solution-oriented and provides expert advice to resolve issues that arise during negotiations.” (Chambers Asia-Pacific)“Randy has provided great expertise and perspective to our projects and facilitated the completion of our deals.” (Chambers Global)Randy received his J.D. cum laude from the University of Michigan Law School and attended Konan University in Kobe, Japan and Stanford University’s Inter-University Center for Japanese Studies. He is fluent in Japanese and is also a registered Gaikokuho-Jimu-Bengoshi and a member of the Daini Tokyo Bar Association.

Randy Laxer

Partner

Joshua Isenberg is a partner in the firm’s Real Estate Group. Josh’s practice includes a wide variety of real estate transactions, including senior and mezzanine financing, acquisitions, sales, construction and development matters, joint ventures, and ground leases.Josh has represented a broad range of institutional and private clients in connection with office, industrial, hotel, retail, mixed-use and multi-family projects.Josh is ranked for Real Estate in Japan by Chambers Asia-Pacific 2026. He is also listed in the Hall of Fame for Japan: Real Estate in The Legal 500 Asia Pacific 2026.<h4>Representative Experience</h4><ul><li>SEKISUI HOUSE, LTD., in its $468 million acquisition of U.S. homebuilder Woodside Homes Company, LLC.</li><li>NORTH AMERICA SEKISUI HOUSE, LLC, the U.S. business operations unit and full subsidiary of SEKISUI HOUSE, LTD., in acquisitions and joint ventures related to residential development projects across the United States.</li><li>Deutsche Bank AG Tokyo Branch on multiple non-recourse loan facilities for the construction of large scale photovoltaic power projects in Japan.</li><li>Fortress Investment Group in multiple acquisitions, dispositions of real estate assets and financings on properties and portfolios located throughout Japan. </li><li>A Japanese institutional investor in acquisition and joint venture related to residential development properties in Chicago and logistic facilities in Dallas.</li><li>A large Japanese bank in the refinancing of mortgage and mezzanine loans to a US entity, secured by a portfolio of iconic hotels and resorts in Hawaii and San Francisco.</li></ul>

Joshua Isenberg

Adam Harris is a corporate partner in our Tokyo office. He focuses his practice on cross-border mergers, acquisitions, disposals, spinouts, and joint ventures in various industries including life sciences, semiconductor-related businesses, heavy industries, and professional services.Adam received his J.D. from Duke University School of Law, where he was a senior staff editor of the Duke Journal of Constitutional Law & Public Policy. He received his B.A. from University of North Carolina, Chapel Hill.Adam has been recognized by The Best Lawyers in Japan in its Ones to Watch category for Capital Markets Law.Adam is admitted to practice in Japan (Gaikokuho-Jimu-Bengoshi) and New York.

Adam Harris

Matthew Blair represents clients in complex commercial real estate transactions, including financings, joint ventures, acquisitions, dispositions, developments, leasing matters, and preferred equity investments.Matthew has represented domestic and international clients, including major financial institutions, investors, private equity funds, developers, and owners, in transactions across the United States. His practice covers a wide variety of asset classes, including commercial, hospitality, and office properties.Before joining Morrison Foerster, Matthew was an associate with another international law firm. He received his J.D. cum laude from Georgetown University Law Center and his B.A. from Vassar College.

Matthew Blair

Associate

Ning Ning is a corporate associate in Morrison Foerster’s Tokyo office.Ning received her J.D. from Duke University School of Law, where she served as a student attorney for the Start-Up Ventures Clinic and represented early-stage businesses on a variety of corporate matters. She received her B.A. in Psychology and in Japanese with honors from Washington University in St. Louis. From 2010 to 2012, Ning studied at Waseda University in Tokyo and was a recipient of the 125th Anniversary Scholarships. Ning is fluent in English and Mandarin.Ning has been recognized by The Best Lawyers in Japan in its “Ones to Watch” category for Corporate and M&A Law.

Ning Ning

Joe Gillman represents a wide range of clients in complex real estate transactions involving the financing (lending and borrowing), leasing, development, acquisition, management, and disposition of real estate assets. Joe has experience with all major property types, including office, multifamily, retail, hospitality, mixed-use, and industrial projects.Joe routinely collaborates with MoFo lawyers who concentrate in other practice areas in connection with domestic and international mergers, acquisitions, divestitures, and other transactions. He has extensive experience drafting and negotiating leases and subleases of office, industrial, and research and development spaces nationwide.Joe graduated from Emory University with both a J.D. and an M.B.A., and he received his B.A. from the University of California, Berkeley.