|
CONTACT:
Gavin Anderson
for
Pembroke Real Estate
Deborah Hayden/John
Short
+81-3-5404-0640
Central
Location, Strong Demand and Rising Tokyo
Property Values
Make
Grand Mansion an Attractive Long-Term Investment Opportunity
TOKYO,
September
6, 2007
-- Pembroke Real Estate today announced the purchase of
Moto Azabu Grand Mansion and associated
land on behalf on an affiliate. Moto Azabu Grand Mansion is a
12 year-old, 25-unit, high-end multi-family residential
property on 3,874 square meters of land located in one of the
highest regarded residential
submarkets in Tokyo.
Grand
Mansion
is conveniently located near the Roppongi Hills residential,
office and entertainment complex and is within walking
distance of several subway stations.
“Adjacent
to Pembroke’s recently purchased Moto Azabu 3 Chome property,
Grand Mansion greatly complements our
existing Tokyo portfolio, which
also includes the luxury Hikawa Gardens residence in Akasaka,” said
Mark Takeuchi, head of the branch office of Pembroke Real
Estate Japan. “The
property will allow for significant operating synergies with
Pembroke’s
adjacent
Moto Azabu 3 Chome site, enabling management
efficiencies.”
“The
continued appreciation of land value in central Tokyo,
increasing demand for high-quality residential housing from
expatriates, and close proximity to leading international
employers and schools are all factors that make this an
attractive long-term investment and one that fits ideally with
our strategy of investing in projects with enduring value and
the ability to enhance their communities,” added
Takeuchi.
Pembroke
continues to identify new properties in Japan, while also continuing to
expand its portfolios in the United States, London and continental Europe. Moto
Azabu Grand Mansion is the firm’s
fourth acquisition in the past year. Pembroke manages more
than 300,000 square meters of commercial and residential space
worldwide, including properties in Boston, Brussels, London, San
Francisco, Tokyo and
Washington.
Property
details:
-
Address:
3-7
Moto-Azabu, Minato-ku, Tokyo 106-0046
-
Land
size: 1,172 tsubo, or 3,874
square meters
(0.96 acres)
-
Total
number
of units: 25
-
Average
unit size: 66.3 tsubo, or 219 square
meters
-
Number
of floors: 6 (five above ground plus
basement)
About
Pembroke Real Estate
Pembroke
Real Estate is the real estate investment and development
advisor for Fidelity Investments, one of the world’s largest
financial services organizations. Pembroke and its affiliates
specialize in the acquisition, design, development and
management of signature properties in major metropolitan areas
worldwide. The firm currently manages more than 3 million
square feet of commercial and residential space in London,
Tokyo, Brussels, San Francisco, Boston and Washington, D.C.
Pembroke seeks high-quality, high-profile, well-located
acquisition and development opportunities in the
office, residential and multi-use sectors. For more
information, visit the company’s Web site at http://www.pembrokere.com/.
###
|
