DDI Japan Successfully Acquired Two Office-building Projects in Tokyo
Great news from DDI Japan: DDI Japan and Japan VORTEX Company have co-invested and jointly acquired two office-building projects——Ebisu and Heiwa-cho. Since its establishment in February this year, DDI Japan has successfully completed the acquisition of the two projects in a short time under the joint efforts of the Group's overseas team. The Ebisu project has been successfully transferred on May 30 and the Heiwa-cho project will be handled soon in early June.
The Ebisu Project
The full name of the project is Ebisu Grass Gate. It is located in Shibuya, Tokyo, adjacent to JR Shibuya Station and surrounded by the famous bustling business district of Tokyo. The project, completed in September 1993, was in reinforced concrete structure. It covers an area of 189.95m2 with 9 floors above the ground and 1 basement, and the total construction area is 2,252.62m2. It is estimated to sell out within 6 to 9 months; and the annual return is expected to exceed 20%.
The Heiwa-cho Project
The full name of the project is BUREX Heiwa-cho. It is located in Chiyoda, Tokyo, adjacent to the Imperial Palace and with excellent geographical advantages and convenient transportation. It covers an area of 280.18m2 and is a 10-story office building with a total construction area of 1,665.75m2. It is estimated to sell out in 6-9 months; and the annual return is expected to exceed 20%.
This acquisition is the first cooperation between DDI Japan and VORTEX Company, which has adopted the SPC anonymous portfolio investment model and successfully obtained CCC (Commodity Credit Corporation) loan from the bank. This innovative acquisition model is the first case in the Japanese office building segment market. DDI Japan has basically established its investment model in Japan through this acquisition. The short-term and high-yield operation mode of the two projects will become the focus of attention in the entire group and also lay a solid foundation in the Japanese real estate market for DDI Group; in the future, DDI will continue to use this model and increase the investments in office-building projects and residential projects in Japanese market.