Wood Partners, one of the largest multifamily community developers in the United States, has announced that a subsidiary of Itochu Corporation has acquired a 19.5% minority stake in the company. The strategic investment introduces a major global partner to Wood Partners as the multifamily developer continues expanding its national footprint.
Itochu, headquartered in Tokyo and led by President and CEO Masahiro Okafuji, brings international reach and new avenues for capital collaboration that Wood expects will support accelerated growth. The company stated that the transaction will not alter its strategy, leadership structure, or ongoing operations. Wood’s management team will retain majority ownership, and Fayez Sarofim & Co., its long-standing partner, will continue to hold a significant minority position.
The firm plans to continue expanding its relationships with existing investment partners across its developments. Wood Partners has built or acquired more than 115,000 multifamily homes with a capitalization value of $24 billion and currently owns more than 80 properties comprising approximately 25,000 homes nationwide. With offices in 17 major U.S. markets, the company ranks as the third largest multifamily developer in the United States according to the National Multifamily Housing Council’s 2025 rankings.
Support: Baker and McKenzie LLP served as legal counsel, and SMBC Nikko Securities America acted as exclusive financial advisor to Wood Partners on the transaction. Financial terms of the deal were not disclosed.
KEY QUOTE:
“This partnership marks an exciting milestone for Wood Partners as we continue to expand our footprint and deliver exceptional communities across the United States. ITOCHU’s global reach and deep expertise will complement our existing strengths, providing new avenues for capital and strategic relationships that accelerate our growth while preserving the culture and operational excellence that define Wood.”
Joe Keough, Chairman and CEO, Wood Partners
