Client’s viewing of a large apartment building (大型マンション物件のご案内)

myasuda 29/09/2018

From yesterday night, I was spending time with the CEO of a real estate fund manager and my local partner from Singapore, and just finished their viewing of the large 2nd-house apartment building at Ikebukuro today.


The buyer includes the CEO and 3 other attendees from our local partner. The seller includes 3 attendees from the company owning this property, and other 4 attendees from the consulting firms including our company which arranged both sides. So the total number of attendees was 10, which is the biggest viewing in my past experiences.


The property is the mixed shop and residential apartment building which has the total 12 floors and 37 units. Occupancy rate is 85%, gross yield is 5%, and the price is roughly USD13M (SGD18M, JPY1.5B).

I had an opportunity to see the rent roll. The tenants include not only Japanese, but also many foreigners, which I feel is the characteristics of the location at Ikebukuro. Of course, since each unit is covered by the 3rd-party rent guarantee company, there is no risk of uncollected rent.


The seller company is buying a number of large buildings inside Tokyo 23 wards, making the full renovation for value-up, and selling those buildings to the large-scale investors. I was so impressed by their skills.


Going forward, through our local partners from Singapore, our company would like to continue introducing the real high value large-scale properties to our overseas investors and inviting talented skilled professionals from overseas as tenants. We believe this will not only activate Japanese property market, but also internationalize and bring higher growth of Japanese economy.


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