Daito Trust Construction will acquire all shares of Coastline, a U.S. rental property management company, for approximately ¥6 billion by September. Against a backdrop of growing demand for rental housing in the United States, particularly among middle- and low-income households, the company plans to expand its residential property management business in the U.S. market.
Daito Trust Construction will acquire Coastline, which provides outsourced management services for rental housing in the United States. The acquisition price is approximately ¥6 billion, and the company is reportedly planning to acquire all of Coastline’s shares by September.
Coastline is known for its strengths in outsourced rental property management and renovations, and is reported to have capabilities including local renovation work and marketing.
In the U.S. market, soaring rents and rising interest rates are reportedly driving increased demand for rental housing, particularly among middle- and low-income households. Through the acquisition, Daito Trust Construction is reported to be seeking to capture housing demand in the United States.
As it expands its business in Japan and overseas, the company plans to strengthen its U.S. operations, and attention is focused on developments related to the expansion of its local business.