1,160-Acre New Home Community in Wendell, NC to Be Developed by New Owner

  1,160-Acre New Home Community in Wendell, NC to Be Developed by New Owner

Business Wire

RALEIGH, N.C. -- October 23, 2013

An 1,160-acre new home community located just off US 64/264 at Wendell Falls
Boulevard in Wendell, NC has new owners who plan to start development
immediately. AMERICAN NEWLAND COMMUNITIES, LP (Newland) and their joint
venture partner NORTH AMERICA SEKISUI HOUSE, LLC (NASH) are pleased to
announce the acquisition of master-planned community, “Wendell Falls”, in
Wendell, NC. Newland and NASH successfully completed a due-diligence period
with previous landowners, Wachovia/Wells Fargo and officially closed on the
purchase on October 21.

When fully complete the community is planned to include approximately 3,000+/-
single-family and multi-family homes, approximately two million square feet of
commercial-retail space, along with open spaces, public parks, and other
community amenities to meet the needs of those who will live there. Newland’s
development business, Newland Communities, will be the master developer of
this new community in Wendell.

“We are excited to officially announce the acquisition of this new community,
and are dedicated to creating a thoughtfully-designed community that provides
a positive lifestyle for our residents and the Town of Wendell. Construction
will begin immediately, with plans to make the first 300 home sites available
for purchase by builders in the first quarter of 2014, and homes to residents
in the early part of 2015,” remarked Keith Hurand, Senior Vice President and
Division Manager, Newland Communities.

“The small town appeal of Wendell with efficient access to major employment
centers and close-proximity to retail and shopping convenience all combine to
make living in this East Raleigh location the next desirable address in the
Triangle,” he continued.

Briar Chapel, located in Chatham County, is another successful community in
the Triangle, owned by NASH-Newland and developed by Newland Communities. This
sustainably-focused, 1,600-acre development opened in September of 2008 and
has approximately 420 residents. At full build-out, the community will be home
to nearly 2,389 residents. Homes are priced from $190,000s to the $900,000s
with nearly 900 acres of preserved open space, 24-miles of planned trails, two
community gardens and the LEED® Silver certified Briar Club. Briar Chapel is
ranked as one of the top five in the Triangle, for annual starts, by
independent real estate research firm MetroStudy, the nation’s leading
provider of primary and secondary market information.

Wendell Falls is owned in a joint venture between NORTH AMERICA SEKISUI HOUSE,
LLC (NASH), the US business unit and full subsidiary of SEKISUI HOUSE, Ltd,
Japan’s largest homebuilder and leading diversified developer, and AMERICAN
NEWLAND COMMUNITIES, LLC, whose development business, Newland Communities, is
the master developer of the community. It is one of more than 30 assets the
NASH-Newland partnership owns or manages together, in 11 states across the US.

About NEWLAND:

Newland is a diversified real estate company leveraging a national platform
and over 40 years of experience to perform challenging and diverse
development, investment, management, and advisory services across a wide range
of real estate. The company’s mixed-use development business, Newland
Communities, actively owns, operates and develops premier residential
master-planned, commercial, retail, and urban mixed-use real estate across the
U.S. Headquartered in San Diego, Calif., Newland and its affiliated companies
have completed, or have underway, more than 140 diverse real estate
developments, more than 20 million square feet of commercial and retail space,
and 175,000 residential units in 14 states. www.newlandcommunities.com

About NORTH AMERICA SEKISUI HOUSE, LLC (NASH):

NASH was established in 2010 as the U.S. business operations unit and a full
subsidiary of SEKISUI HOUSE, LTD., Japan's largest homebuilder and a leading
diversified developer since 1960. SEKISUI HOUSE, LTD. has built more than two
million houses to date and expanded its operations to Australia, China,
Singapore, and the U.S. NASH establishes joint ventures to build innovative
and sustainability conscious master planned communities across the US. NASH is
headquartered in Arlington, Virginia. http://nashcommunities.com/. The Embrey
Mill development joint venture is one of NASH’s consolidated subsidiaries in
the US. SEKISUI HOUSE is headquartered in Osaka, Japan.
http://www.sekisuihouse.co.jp/english/index.html.

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Contact:

Clairemont Communications
Margot Horgan, 919-412-4317
m@clairemontcommunications.com