Global private equity firm The Carlyle Group announced today its acquisition of the Omiya Center Building in partnership with the asset management firm A-Max Corporation, a subsidiary of JASDAQ-listed SBS Company Limited. Carlyle acquired a 90% stake in the building and A-Max the remaining 10%. Hypo Real Estate Capital Japan Corporation provided the debt financing for the acquisition.
The Omiya Center Building is located in the center of a business district west of JR Omiya station in Saitama City, a major satellite city north of Tokyo. The building has a total floor space of 23, 569m2 covering 14 stories above ground and one basement floor. Carlyle plans to increase the value of the property by partnering with asset-management firms A-Max and Itochu Property Development Ltd.
The Carlyle Group’s real estate team in Japan, established in June of this year, has been exploring investment opportunities by leveraging the Group’s collective strengths, including close collaboration with the Japan Buyout team. This is the Group’s first investment in the Japanese real estate market.
Rio Minami, Carlyle Managing Director and Head of the Japan Real Estate team, commented, “I am delighted to have completed our first acquisition in Japan, and we will continue to explore investment opportunities in this region.”
Jason Lee, Carlyle Managing Director based in Hong Kong, also commented, “This is an important step for us as we develop our Asia real estate portfolio focusing in China, Japan and Korea.”
Source: The Carlyle Group