AM alpha GmbH, a Munich-based investment firm 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 Axall Roppongi in the central Roppongi commercial district of Tokyo, Japan.
Axall Roppongi is prominently located along Gaien-Higashi-dori, a major thoroughfare running through the main Roppongi retail area. It is also highly accessible, being a 1 minute walk from the Roppongi train station and directly across Tokyo Midtown, one of the two major commercial developments in Roppongi.
Completed in September 2009, the building has a GFA of 4,856 m², is almost fully occupied and is expected to benefit from future upgrading plans of the surrounding vicinity.
AM alpha maintains a positive outlook on the Tokyo market for the mid to long term. Roppongi, an established commercial area undergoing rejuvenation, is a choice location, given the lack of available mid-sized, grade-A retail space and constraints of available land, which will continue to support the demand for quality space in the area.
The acquisition comes after AM alpha's first investment in Tokyo in H2 2010. 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, as it envisions strong mid-to-long term appreciation in asset value in line with the relatively strong pace of growth witnessed in Asia.
Source: AM alpha (Singapore) Pte. Ltd.