- Investor
-
ACA IV (fund)
- Property
Type -
Office
- Property
Location -
Tokyo 23 Wards
Noah was the acquisition of three separate condominium interests from three separate sellers, in a Grade A- office property in Sumida-ku, Tokyo.
The first interest (42%) was purchased from the mezzanine lender who took control of the defaulted collateral.
Two additional interests were purchased one year later, bringing the total interest in the property to 55%.
Securing over 50% ownership provided majority control and decision-making ability, greatly enhancing the liquidity of the property.
Aetos Japan stabilized the occupancy at 96% and sold the property to a public J-REIT, while negotiating the sell-side brokerage fee to a marginal amount, resulting in a significant capital appreciation and opportunistic returns.