Best American Realty Group Opens 5 Offices

Five branch offices of Best American Realty Group Inc., have been opened simultaneously in New York, San Francisco, Phoenix, Honolulu and Hong Kong in order to better serve its American and off-shore clientele, the Torrance-based firm announced.

Kenneth Braun, president, said that since the opening of the firm’s first four offices last July in Torrance, Tokyo, Osaka and Singapore, “our business has increased to such a degree that it became necessary to expand our facilities to better serve our diverse clientele from Europe, Asia and the United States.�

Best American is a division of Taiyo Investments, USA, founded in 1984 to invest in income and commercial properties in the United States and development of residential real estate. Taiyo is also an off-shoot of Taiyo Real Estate Co. Ltd., a 31-year-old firm and one of Japan’s largest builders, Braun said.

Taiyo Investments has just closed escrow on 34 acres consisting of 49 lots for custom homes in Anaheim Hills. The property has been appraised at $6,125,000 in “finished� condition. Other developments in progress are 66 apartment units in Glendale, scheduled for completion in December, and 18 units in West Los Angeles newly under construction.

Best American’s head office for the United States is at 19750 S. Vermont Ave. Masao Horiuchi is chairman of the board and Teruyoshi Eto is executive vice president.

Financial statements of Taiyo Investments, USA, show that it owns American property valued at $15 million. Horiuchi also is its chairman of the board and serves as president of Taiyo Realty.The firm’s stated aims are to lease office buildings, buy and sell office structures, develop, purchase and sell residential housing, including condominiums. Its Los Angeles bankers include the Sumitomo Bank of California and the Fuji Bank, Ltd.