TOKYO, Mar 7, 2008 - (ACN Newswire) - Urban Asset Management Co., Ltd., ("UAM", located in Chiyoda-ku, Tokyo; president: Kazuhiro Kokado), one of the Group companies of Urban Corporation ("UC"), has reached agreement and concluded a Memorandum of Agreement with Capital Realty Inc. ("CR", located in Minato-ku, Tokyo; president: Jeff Stone) with regard to establishing a new investment fund to target real estate throughout Asia, Capital Asia Partners Real Estate Fund.
The Fund aims to invest in real estate assets throughout Japan and the rest of Asia in regions that have potential. The Fund will invest in office buildings, commercial facilities, residential buildings, hotels, and physical distribution facilities, and by means of various methods ranging from simple profitability enhancement methods to scrap-and-build plans. It aims to achieve maximization of real estate values and increased profit utilizing the know-how and networks of the respective Groups relating to asset management, real estate development, and fundraising.
Within the framework of the Fund, UAM will select, acquire, and make settlements on the properties as asset manager and also serve to implement profitability enhancement measures; such as development driven by its specialist knowledge. UAM, established in 2004 as a real estate fund company of UC, a company listed on the 1st Section of the Tokyo Stock Exchange, posted the handling asset balance of approximately 300 billion yen as of December 31, 2007, and continues building a record of achievement by acquiring and developing properties throughout Japan, developing publicly offered investment trusts, and expanding overseas operations.
In addition, under the Fund, CR implements overall management of fundraising and reports for investors as fund manager. CR has provided real estate asset management services throughout Asia since its establishment in 2002 as a member of the Capital Services Group, which has operations in eight major cities throughout Asia, with a total of more than 9 billion US dollars of
assets under management.
At present, real estate investment in Asia, along with its rapid economic development, is attracting worldwide attention, and both companies are committed to expanding the real estate business and their networks in Japan and the rest of Asia through the formation of the Fund.
1. Urban Asset Management Co., Ltd.
Location: 7-2, Koujimachi 5-chome, Chiyoda-ku, Tokyo
Representative: Kazuhiro Kokado, President and CEO
Business line: Real estate fund management-related businesses such as real
estate fund management and real estate investment advisory
service
Registration Number under the Financial Instruments and Exchange Law:
Director of the Kanto Local Financial Bureau (Kinsho) No. 472
URL: http://www.urban-asset.co.jp/
;
2. Capital Realty Inc.
Location: 10-1, Roppongi 6-chome, Minato-ku, Tokyo
Representative: Jeff Stone, Managing Director & President
Business line: Full asset management services, including real estate asset
management, fund management, property rebranding and
repositioning, sales and brokerage business, and other real
estate accounting services
Registration Number under the Financial Instruments and Exchange Law:
Director of the Kanto Local Financial Bureau (Kinsho) No. 1260
URL: http://www.capserv.com/jp/
;
3. Financial impact:
The financial impact on the business results for the fiscal year ending March 31, 2008, is insignificant and, therefore, there is no change to the earnings forecast released on November 22, 2007.
About Urban Corporation
Urban Corporation is an integrated real estate company, engaged primarily in the real estate securitization business, asset management, and condominium sales. Established in 1990 in Hiroshima, the Company has grown steadily, focusing on its planning and sales agency business. Its stock was listed on JASDAQ in 1996, on the Second Section of the Tokyo Stock Exchange in 2000, and on the First Section in 2002. The Company has expanded its operations from Tokyo, Osaka and Hiroshima to include Nagoya, Fukuoka and Sapporo. Subsidiaries have also been established in Seoul and Singapore as the first steps toward global business expansion. For more information, please visit www.urban.co.jp.
Contact:
Urban Corporation
Corporate Planning Division,
Corporate Communication Department
Kobori, Terashiki
Tel: +81-3-5226-3100
Fax: +81-3-5226-2709
URL: http://www.urban.co.jp/
Topic: Business Tieup
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