- Investor
-
Separate Accounts
- Property
Type(s) -
Office / Retail
- Property
Location(s) -
Greater Yokohama
Zone was the acquisition of a majority sectional interest in a mixed-use property in suburban Yokohama.
The investment was arranged as a bridge fund for three separate domestic institutions, with an LOI received from a public J-REIT to acquire the property in the future. Subsequent to acquisition, the J-REIT rescinded the offer due to concerns over the retail podium tenant leaving.
Aetos Japan leased up and maintained occupancy at 100% through disposition, and despite the major retail tenant submitting notice that they would vacate the property, successfully sold the property to a HNW investor in the middle of the pandemic.
Value-add returns were generated despite a significantly prolonged hold period versus the original plan.