Japanese investment in the U.S. housing market continued this year with Hajime Construction’s acquisition of a 51% equity stake in Salt Lake City, Utah-based Wright Homes.
The acquisition marks the first foray into the U.S. market for Hajime Construction, a member of Iida Group Holdings. The company established an overseas subsidiary, Hajime America, in January ahead of the transaction to provide a platform for international business expansion.
Founded in 1994, Wright Homes specializes in the development, construction, and sale of single-family homes and townhomes in the Salt Lake City metro area. President and CEO Derek Wright tells BUILDER the company’s portfolio includes entry-level for-sale townhomes; move-up and high-end single-family detached homes; and 55-plus communities. According to Zonda’s Local Leaders data, Wright Homes ranked as the sixth largest builder in the Salt Lake City metro market with a market share of 3.2% in 2024…