Daiwa House Industry to Start High-Rise Rental Housing Business in Chicago, Illinois

- Third U.S. Joint Real-estate Project with Lincoln Property -

Aug 25, 2015, 02:00 ET from Daiwa House Industry Co., Ltd.

OSAKA, Japan, Aug. 25, 2015 /PRNewswire/ -- In August, 2015, Daiwa House Industry Co., Ltd. (hereinafter "Daiwa House Industry") will commence the Chicago North Clark Project, a high-rise rental housing project in Chicago, Illinois.

(Photo: http://prw.kyodonews.jp/prwfile/release/M000427/201508182798/_prw_OI1fl_juDft25F.jpg)

The Chicago North Clark Project is the third joint project with major U.S. real estate company Lincoln Property Co., the other two projects being the Berkeley and the Water's Edge.

Daiwa House Industry plans to purchase and develop 150 billion yen worth of rental real estate over the next three years through 2016 via its U.S. subsidiary Daiwa House Texas, with the goal of achieving annual net sales in the United States of 50 billion yen by fiscal 2020.

Key Data
1. High-rise rental housing with 31 stories above ground and a total of 373 units
2. Located close to central business district and commercial facilities in Chicago
3. Targeting middle- to high-income earners among the Generation Y segment

About Daiwa House Industry Co., Ltd.
President and COO: Naotake Ohno
Head Office: 3-3-5 Umeda, Kita-ku, Osaka, Japan

SOURCE Daiwa House Industry Co., Ltd.