Hypo Real Estate Bank International, Dublin, is opening its location in Tokyo, Japan. The company has commenced operations yesterday. Its range of services comprises large commercial real estate financing as well as the structuring of major transactions and portfolio financing.
These services are targeted at Japanese and international professional real estate investors. Hypo Real Estate Capital Japan Corporation will commence operations with 12 members of staff headed by Dr. Leonard Meyer zu Brickwedde.
'Following the phase of more than ten years which has seen the restructuring of the corporate and financial sector as well as legal and tax conditions, the Japanese economy is now gradually regaining strength. The country is also benefiting from the positive economic climate in large areas of Asia,' says Jürgen Fenk, member of the executive board of Hypo Real Estate Bank International. 'We have accordingly identified strong market potential in Japan. We shall establish Hypo Real Estate Capital Japan Corporation as a specialist for structured financing.'
Leonard Meyer zu Brickwedde adds: 'In recent years, the Japanese real estate market has undergone tremendous change, and has experienced a tremendous amount of modernization. International standards have become established in the fields of pricing, transparency and due diligence. The market will also become more important for international investors.' He continues: 'We have identified good business opportunities for Hypo Real Estate Capital Japan Corporation with our clearly defined business model and as a result of focussing on professional real estate banking, we have clearly differentiated ourselves from all other foreign players on the Japanese market.'
Hypo Real Estate Capital Japan Corporation is a wholly-owned subsidiary of Hypo Real Estate Bank International. The loan portfolio of Hypo Real Estate Capital Japan Corporation is worth JPY 15 billion at the start of operations (around EUR 125 million). Growth to JPY 50 billion (around EUR 400 million) is planned for 2004.
Source: Hypo Real Estate