Sumitomo Forestry has recently acquired the operating platform of renowned apartment developer, JPI. Under this collaboration, JPI will continue to manage all ongoing construction projects until their completion and realization. The company will also retain its name and headquarters in Irving, Texas while operating independently within the Sumitomo Forestry conglomerate. With over $200 million invested in JPI communities over the past four years, Sumitomo is committed to fostering sustainable communities.
According to a recent survey by NMHC in 2023, JPI holds the top spot as the fastest-growing developer and second-fastest growing builder in the United States.
Atsuchi Iwasaki from Sumitomo Forestry stated that this partnership marks a significant milestone towards creating impactful and innovative communities across all income levels. The shared values and vision between both companies solidify their potential for success.
Since 2003, Sumitomo Forestry has primarily focused on single-family home business operations within America. However with its latest acquisition of JPI’s multifamily construction volume is expected to increase significantly.
