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Operations through Real Estate Securitization
Tokyo Tatemono employed the Asset Liquidation Law (SPC Law), and real estate syndication act in Japan's first releases of securitized and small-share real estate investment products. In essence, we are Japan's pioneers in this field, and expect the real estate securities market to grow enthusiastically through the expansion and advancement of "J-REIT" real estate investment trusts, project financing of development projects, and non-recourse loans for commercial real estate. We have set our growth strategy to be the increase of profitability through active development that hinges on securitization of real estate. Consequently, our businesses will engage in all domains through adoption of real estate securitization models.
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In order to improve returns on assets, we invest in revenue-generating buildings through the use of the special purpose company (SPC). The SPC contracts for the asset management and property management business. We maximize investment profitability through value-added measures for properties, such as bulk leases and renovations.
Hamarikyu Parkside Place (Chuo Ward, Tokyo) |
The plentiful greenery of Hamarikyu Onshi Garden lines the view below, while the Tokyo Bay panorama unfolds beyond from this 17-story office building with two levels underground. It is just a short walk to the JR and Metro hub Shinbashi Station, which is served by seven lines for quick access to business districts of Kasumigaseki, Tokyo Station, and Ginza. |
Apartments 33 (Minato Ward, Tokyo)The SPC Law (now the Asset Liquidation Law) enacted in September 1998 enabled securitization (the first registration under the law in 1999) of this serviced apartment property for foreign guests. |
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Tokyo Tatemono actively seeks to expand opportunities for participating in large-scale urban redevelopment projects with cooperation from joint investors and by employing project financing that utilizes real estate securitization.
Otemachi ProjectTokyo Tatemono funded the initial acquisition capital of this large-scale, long-term redevelopment project in excess of ¥100 billion with structured financing. Japan's first case of hybrid financing provided not just the senior loan in concert with Development Bank of Japan, but also the mezzanine loan to cover the redevelopment phase.
Fukuoka ProjectTokyo Tatemono succeeded in attracting prominent institutions as joint investors, and obtained non-recourse loans for an SPC under a portfolio strategy formulated around real estate revitalization for 20 properties in Fukuoka City. The various scenarios in the strategy include commercial redevelopment on Class A parcels,renovations to upgrade property value, and early disposal of liquid properties.
Tokyo Tatemono Invest PlusTokyo Tatemono is offering the Tokyo Tatemono Invest Plus series of small-share real estate investment products starting at ¥5 million per unit.
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In order to enter the J-REIT market, Tokyo Tatemono jointly established Tokyo Realty Investment Management Inc., with Taisei Construction, The Meiji Yasuda Life Insurance (former Yasuda Mutual Life Insurance Company), Yasuda Real Estate Co., Ltd., and SOMPO JAPAN INSURANCE, INC., and publicly listed Japan Prime Realty Investment Corporation Fund in June 2002 as the investment vehicle. We are responding to broad needs of investors by bringing our extensive real estate development, management, and operating capabilities together with the expertise shared among our joint organization partners.
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