Visionary Homes and Misawa Homes Co. Join Forces to Expand Homebuilding Operations Across Utah

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
[email protected]

SOURCE Visionary Homes