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Tokyo Tatemono and Sumitomo Forestry Join Jefferson Portico Multifamily Development in Long Beach, California

MultifamilyNew developmentOverseas

Tokyo Tatemono and Sumitomo Forestry Join Jefferson Portico Multifamily Development in Long Beach, California

Tokyo Tatemono and Sumitomo Forestry Join Jefferson Portico Multifamily Development in Long Beach, California

Tokyo Tatemono and Sumitomo Forestry, through their group companies Tokyo Tatemono US Ltd. and JPI, have joined the “Jefferson Portico” multifamily development project in Long Beach, California. The site is roughly a 40-minute drive from Downtown Los Angeles, and construction commenced on November 18, 2025. Tokyo Tatemono positions the expansion of its overseas business as a key strategic priority, and this project is part of that initiative.

The plan calls for an eight-story podium-type building with a site area of approx. 6,394 sqm and a Gross Floor Area of approx. 22,498 sqm (approx. 242,000 sq. ft.). The first and second floors will house retail space, with residential units located on the third floor and above. The project will deliver 272 units ranging from studios to three-bedroom apartments, including 16 affordable units. Amenities will include a fitness center, pool, sky deck, clubhouse, sauna, coworking space, and pet spa.

Tokyo Tatemono has designated overseas expansion as one of its priority business domains. Since reentering the U.S. market in 2023, the company has participated—through Tokyo Tatemono US—in 11 projects comprising nine multifamily developments and two logistics facilities. Tokyo Tatemono and Sumitomo Forestry already have a track record of joint multifamily development in the U.S., and this marks their fourth collaboration. Sumitomo Forestry entered the U.S. multifamily development sector in 2018, and its 2024 multifamily housing starts totaled 5,344 units, placing it among the top four developers nationwide.

JPI, a multifamily developer headquartered in Dallas, Texas, became a subsidiary of Sumitomo Forestry in 2023. Tokyo Tatemono and Sumitomo Forestry aim to further expand their U.S. multifamily platform through partnerships with JPI and other local players.

Key Facts

  • Property Name: Jefferson Portico

  • Developers: Tokyo Tatemono US Ltd. / JPI Group (Tokyo Tatemono Group / Sumitomo Forestry Group)

  • Location: 450 The Promenade North, Long Beach, California

  • Nearest Station: 5th St Light Rail Station, approx. 3-minute walk

  • Construction Start: November 18, 2025

  • Completion: March 2028

  • Number of Floors: 8F

  • Gross Floor Area: approx. 22,498㎡ (approx. 242,000 sq. ft.)

  • Total Units (Planned): 272 units (including 16 affordable units)

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