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.
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