Daiwa House Industry to acquire a 80% stake in CastleRock Communities for $408m.

Daiwa House Industry, a home builder, agreed to acquire a 80% stake in CastleRock Communities, a full service regional home builder and management firm, for $408m. "Texas is one of the largest housing markets in the United States, and will be an important market in the context of the Daiwa House Group’s focus on the “smile zone”. Particularly in recent years, due to factors such as its attractive tax system and low cost of living as a backdrop, companies, including those in high-tech industries, have been relocating and creating jobs, in addition to traditional oil and energy industries. Migration from other states to Texas has been active, and the housing market is expected to continue to expand," Daiwa House.