AM alpha (Singapore) Pte. Ltd., a Munich-based privately owned real estate investment firm with its Asian operations headquartered in Singapore and focusing on prime real estate in flagship cities in Europe and the Asia Pacific, is pleased to announce that it has successfully completed the acquisition of Renai Aoyama Building in the key commercial district of Aoyama, Tokyo.
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Renai Aoyama Building is located in a key commercial district in Tokyo.
About the property
Winner of the Good Design Award for Architecture and Environment Design (designed by Nikken Sekkei with Kumagai-gumi as contractor), Renai Aoyama Building is prominently located along Aoyama-dori. It is within 4 minutes' walk from the Omotesando and Gaienmae train stations. Aoyama is a key commercial district in Tokyo which houses the headquarters of multinational and renowned domestic companies (e.g. Oracle, Honda, and Itochu). Completed in May 2003, the building has a GFA of 6,411 m².
Rationale
AM alpha maintains a positive outlook on the central Tokyo office market. Aoyama, an established and well-regarded business locale is a highly sought after business address for many companies including the fashion and IT industries. Given the lack of available Grade A office space and constraints of available development sites along Aoyama-dori, these factors will continue to support the demand for quality space in the area.
This investment represents an opportune market entry point. AM Alpha envisions that the strong mid-to-long term economic growth trend in Asia will help support recovery in the Tokyo office market, which is currently approaching a market bottom. As confidence returns, evidenced through improving liquidity and increasing J-REIT activities, Tokyo will become a focal market of global investors seeking 'core' investment opportunities.
The acquisition of Renai Aoyama Building comes shortly after AM alpha's first acquisition in Shanghai in February 2010 with a total investment volume of 200 million. Beyond this acquisition, AM alpha intends to continue pursuing its strategy of gaining a foothold in prime real estate within flagship cities in the Asia Pacific.
Source: Cogent Communications
Winner of the Good Design Award for Architecture and Environment Design (designed by Nikken Sekkei with Kumagai-gumi as contractor), Renai Aoyama Building is prominently located along Aoyama-dori. It is within 4 minutes' walk from the Omotesando and Gaienmae train stations. Aoyama is a key commercial district in Tokyo which houses the headquarters of multinational and renowned domestic companies (e.g. Oracle, Honda, and Itochu). Completed in May 2003, the building has a GFA of 6,411 m².
Rationale
AM alpha maintains a positive outlook on the central Tokyo office market. Aoyama, an established and well-regarded business locale is a highly sought after business address for many companies including the fashion and IT industries. Given the lack of available Grade A office space and constraints of available development sites along Aoyama-dori, these factors will continue to support the demand for quality space in the area.
This investment represents an opportune market entry point. AM Alpha envisions that the strong mid-to-long term economic growth trend in Asia will help support recovery in the Tokyo office market, which is currently approaching a market bottom. As confidence returns, evidenced through improving liquidity and increasing J-REIT activities, Tokyo will become a focal market of global investors seeking 'core' investment opportunities.
The acquisition of Renai Aoyama Building comes shortly after AM alpha's first acquisition in Shanghai in February 2010 with a total investment volume of 200 million. Beyond this acquisition, AM alpha intends to continue pursuing its strategy of gaining a foothold in prime real estate within flagship cities in the Asia Pacific.
Source: Cogent Communications
