LOGAN,
Utah, July 17, 2024 /PRNewswire/ -- Visionary
Homes is pleased to announce Misawa Homes Co., Ltd. has
partnered to acquire 51% of the company on June 18, 2024. Misawa Homes America, Inc. (MHAM)
is a wholly owned subsidiary of Misawa Homes Co. with headquarters
in Tokyo, Japan. Visionary Homes
is a 20-year-old, top-ranking homebuilder in Utah with a strong market share and brand
position making the partnership attractive for Misawa's expansion
aspirations. Misawa Homes Co. aims to achieve substantial growth
through the Visionary Homes partnership combined with other
previously acquired homebuilders.
In 2018, Misawa Homes Group entered their first market
outside of Japan by investing in
Australian-based Homecorp Constructions Pty Ltd., and just one year
later entered the housing industry in the US by acquiring an
interest in Impression Homes LLC., a homebuilder established in the
Texas market. The investment in
Visionary Homes is Misawa's first within the western US, which will
support the parent firm's goals to accelerate the growth of its
overseas housing portfolio reaching $497.5
million (approximately ¥80 billion) in fiscal 2024. The
combined Misawa Homes sales of overseas business in these two
countries amounted to $368.7 million
(approximately ¥59.3 billion) in 2023.
Visionary Homes was founded in 2004 and is a privately
held homebuilder with the largest footprint of Utah builders from Logan to St.
George. The homebuilder has thirty active communities that
serve both first-time and second-time homebuyers. The company's
vast mix of home designs across single-family and multifamily
communities also offers the company flexibility to adapt to
changing consumer demands while being able to serve increasing
migration rates across the state over the last several years and
counting. To keep up with changes in consumer preferences, the
company is focused on adopting cutting-edge technology to improve
its systems and processes for growth and has further differentiated
itself in the market with an award-winning design center
experience.
Visionary Homes has expanded its market share through steady
sales performance and a dedication to evolving while meeting the
needs of today's customers. Visionary has strategically adjusted
its product mix to not only include single-family homes, but
also townhomes and condo communities. In 2022, the share of
multi-family housing in the company's total sales of 804 units
reached 40%. Visionary has not only offered homebuilding growth
through starts and sales year over year, but the firm also takes
pride in being named "Best Homebuilder" four times throughout 2021,
2022, and 2023 across The Best of Northern Utah and The Best of Southern Utah awards programs. Additionally,
Zonda and other internal Visionary Homes measures have respectively
reported the company as being the fourth largest builder based on
sales in 2022 and 2023.
Visionary Homes looks forward to leveraging the Misawa
partnership to grow, explore new technologies and cutting-edge
building practices cultivated in Japan, and collaborate on
best practices shared among other builders in the portfolio.
Jeff Jackson, Founder and CEO
stated, "The Misawa partnership provides a wonderful opportunity
for the future of the company. We started as a small custom
homebuilder that was completing only a handful of homes per year.
Reflecting on two decades of planned growth across the state,
coupled with the dedication of our team members, makes this
strategic partnership a cornerstone that will fortify our position
as a premier builder in Utah and
paves the way for our expansion into neighboring markets. Visionary
Homes is well known for its dedication to quality, value, and
customer experience, and our Misawa partnership not only
supports these deeply rooted traits but also allows Visionary to
secure the long-term viability of the company."
About Visionary Homes
Visionary Homes is one of the largest privately held
homebuilders across Utah. Since
2004, the passion of company founders Jeff
Jackson and Justin Cooper has
been to edify all within the company's circle of influence:
employees, customers, trade partners, industry partners, and the
broader community. The Visionary team strives to carry on this
legacy by creating homes and communities that reflect expert
craftsmanship and deliver exceptional living experiences. Visionary
Homes has earned numerous accolades for its outstanding quality and
value, solidifying its reputation as a trusted leader in the
industry. With a strong and rapidly growing presence across
Utah, Visionary Homes continues to
impact the home-building landscape, making homeownership a reality
for countless families. Visit visionaryhomes.com to learn more.
Inquiries may be directed to:
Jennifer Cooper
Chief Marketing Officer
Visionary Homes
720.557.1697
Jennifer.Cooper@visionaryhomes.com
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SOURCE Visionary Homes