Milbank, Tweed, Hadley & McCloy LLP advised Salt Lake City-based homebuilder Woodside Homes and its equity holders in the company’s recently completed sale to Sekisui House, Ltd., the largest Japanese homebuilder and diversified developer.
Corporate Group partner Kenneth Baronsky led the Milbank team in the transaction, in which Sekisui House will acquire 100% ownership of Woodside through its US subsidiary, North America Sekisui House, LLC. The deal closed on February 28, 2017.
One of the nation’s top homebuilders, Woodside has built more than 40,000 homes across the country with current operations in Arizona, California, Nevada, and Utah. Its company name, executive team, and daily operations will remain unchanged after the acquisition.
Sekisui House established its North American operations in 2010 and now boasts a US portfolio of more than 30 residential communities and 20 urban-infill and transit-oriented projects. The Woodside acquisition brings Sekisui House into the upper ranks of US homebuilders and developers of master-planned communities and mixed-use, multi-family, and condominium properties.
In addition to Mr. Baronsky, Milbank lawyers advising Woodside on the transaction included Corporate associates Mark Vible and Ramin Savar; Tax partner Russell Kestenbaum and special counsel Max Goodman; Executive Compensation partner Manan (Mike) Shah and associate Nicholas DeLuca; and Real Estate special counsel Alan Schacter.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York 150 years ago, Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC.
Milbank’s lawyers collaborate across practices and offices to help the world’s leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives.
