Press Release
March 13, 2008
Newspaper articles: KMM Building Acquired
Newspaper articles: KMM Building Acquired
• Nihon Keizai Shimbun (The Nikkei),
March 12, 2008 Office buildings in Kokura district acquired in substantial investment
Genkai Capital Management Co., Ltd. purchases properties for ¥5 billion
Genkai Capital Management Co., Ltd. (based in Fukuoka City; President: Masatoshi Matsuo), a local real estate investment company of Kyushu, has acquired a large office building in Kitakyushu City for approximately ¥5 billion, marking the first building acquisition for Genkai Capital Management in the city of Kitakyushu. Due to overconcentration in Fukuoka City, the commercial and industrial sectors in the central districts of Kitakyushu City have been on the decline. Despite these trends, the company made the determination that property values in the area are likely to increase−and thereby profits expected to rise−by improving the quality of facilities including parking. The building purchased is called the KMM Building of Kokurakita-ku, Kitakyushu City. It is located near JR Kokura Station, and features 10 above-ground floors, one below-ground floor, and floor space totaling 25,400 m². The property was purchased from Harakosan Co., Ltd. at the end of February with capital from the Genkai Capital Fund 2, a new real estate fund worth roughly ¥50 billion launched last August. Property managing will continue to be contracted to Kokura Enterprise Co., Ltd. of Kitakyushu City (property manager prior to the purchase). However, common areas of the facilities will be refurbished by Genkai Capital Management at a cost of some ¥500 - 600 million. Genkai Capital Management also plans to boost user-friendliness of the building by securing parking space nearby. Prospective new tenants include auto industry companies. Through the two funds operated by Genkai Capital Management, the company owns a total of roughly ¥20 billion in commercial and office buildings, mainly in Fukuoka City.
*From Page 14 of the regional economy section of the Nihon Keizai Shimbun (The Nikkei).
• Nishinippon Shimbun, March 13, 2008
Genkai Capital Management acquired building near Kokura Station
Genkai Capital Management Co., Ltd., a real estate investment company of Fukuoka City, announced its purchase of an office building (KMM Building) near JR Kokura Station, Kokurakita-ku, Kitakyushu City, on March 12. The property features 10 above-ground floors, one below-ground floor, and total floor space of 25,000 m², and houses about 70 corporate tenants. It was purchased from Harakosan Co., Ltd. of Shimonoseki City, Yamaguchi Prefecture at the end of February. Because the building is 29 years old, Genkai Capital Management will invest approximately ¥500 million in the property for repairs of common areas as well as to secure parking in the vicinity, thereby raising the property value. Through its two funds, Genkai Capital Management owns a total of some ¥20 billion in commercial and office buildings in Fukuoka City.
• Yomiuri Shimbun, March 13, 2008
Genkai Capital Management purchases building for ¥5 billion
Genkai Capital Management Co., Ltd. of Fukuoka City, a real estate fund management company investing mainly in Kyushu, announced its acquisition of the KMM Building, an office building located in Kokurakita-ku, Kitakyushu City, on March 12. The amount paid for the building is believed to be around ¥5 billion. Located near the north exit of the JR Kokura Station, the building has 10 above-ground floors and total floor space of 25,400 m². It was purchased from condominium management company Harakosan Co., Ltd. of Shimonoseki City, Yamaguchi Prefecture. Genkai Capital Management will invest some ¥500 million in the building, which was built in 1979, to refurbish mainly common areas. The company comments, "by renovating the building, we would like to attract auto industry companies, which have recently been moving into the Kitakyushu region in heavier concentrations, as new tenants."
• The Mainichi Newspapers, March 13, 2008
Genkai Capital Management purchases KMM Building in Kokura district.
Genkai Capital Management Co., Ltd., a Kyushu real estate investment company of Fukuoka City, announced its purchase of the KMM Building, an office building located in Kokurakita-ku, Kitakyushu City, on March 12. Worth some ¥5 billion, the purchase represents the company's first property acquisition in Kitakyushu City. Located in close proximity to the north exit of the JR Kokura Station, the large building features 10 above-ground floors and a total of approximately 25,400 m² of floor space. It was purchased from real estate developer Harakosan Co., Ltd. of Shimonoseki City, Yamaguchi Prefecture. Genkai Capital Management plans to bolster the value of the property by investing some ¥500 million to renovate common areas. Genkai Capital Management operates real estate investment funds, investing mainly in property located in Kyushu. The KMM Building was acquired with funds from the Genkai Capital Fund 2, a ¥50 billion fund launched in August of last year.
March 12, 2008 Office buildings in Kokura district acquired in substantial investment
Genkai Capital Management Co., Ltd. purchases properties for ¥5 billion
Genkai Capital Management Co., Ltd. (based in Fukuoka City; President: Masatoshi Matsuo), a local real estate investment company of Kyushu, has acquired a large office building in Kitakyushu City for approximately ¥5 billion, marking the first building acquisition for Genkai Capital Management in the city of Kitakyushu. Due to overconcentration in Fukuoka City, the commercial and industrial sectors in the central districts of Kitakyushu City have been on the decline. Despite these trends, the company made the determination that property values in the area are likely to increase−and thereby profits expected to rise−by improving the quality of facilities including parking. The building purchased is called the KMM Building of Kokurakita-ku, Kitakyushu City. It is located near JR Kokura Station, and features 10 above-ground floors, one below-ground floor, and floor space totaling 25,400 m². The property was purchased from Harakosan Co., Ltd. at the end of February with capital from the Genkai Capital Fund 2, a new real estate fund worth roughly ¥50 billion launched last August. Property managing will continue to be contracted to Kokura Enterprise Co., Ltd. of Kitakyushu City (property manager prior to the purchase). However, common areas of the facilities will be refurbished by Genkai Capital Management at a cost of some ¥500 - 600 million. Genkai Capital Management also plans to boost user-friendliness of the building by securing parking space nearby. Prospective new tenants include auto industry companies. Through the two funds operated by Genkai Capital Management, the company owns a total of roughly ¥20 billion in commercial and office buildings, mainly in Fukuoka City.
*From Page 14 of the regional economy section of the Nihon Keizai Shimbun (The Nikkei).
• Nishinippon Shimbun, March 13, 2008
Genkai Capital Management acquired building near Kokura Station
Genkai Capital Management Co., Ltd., a real estate investment company of Fukuoka City, announced its purchase of an office building (KMM Building) near JR Kokura Station, Kokurakita-ku, Kitakyushu City, on March 12. The property features 10 above-ground floors, one below-ground floor, and total floor space of 25,000 m², and houses about 70 corporate tenants. It was purchased from Harakosan Co., Ltd. of Shimonoseki City, Yamaguchi Prefecture at the end of February. Because the building is 29 years old, Genkai Capital Management will invest approximately ¥500 million in the property for repairs of common areas as well as to secure parking in the vicinity, thereby raising the property value. Through its two funds, Genkai Capital Management owns a total of some ¥20 billion in commercial and office buildings in Fukuoka City.
• Yomiuri Shimbun, March 13, 2008
Genkai Capital Management purchases building for ¥5 billion
Genkai Capital Management Co., Ltd. of Fukuoka City, a real estate fund management company investing mainly in Kyushu, announced its acquisition of the KMM Building, an office building located in Kokurakita-ku, Kitakyushu City, on March 12. The amount paid for the building is believed to be around ¥5 billion. Located near the north exit of the JR Kokura Station, the building has 10 above-ground floors and total floor space of 25,400 m². It was purchased from condominium management company Harakosan Co., Ltd. of Shimonoseki City, Yamaguchi Prefecture. Genkai Capital Management will invest some ¥500 million in the building, which was built in 1979, to refurbish mainly common areas. The company comments, "by renovating the building, we would like to attract auto industry companies, which have recently been moving into the Kitakyushu region in heavier concentrations, as new tenants."
• The Mainichi Newspapers, March 13, 2008
Genkai Capital Management purchases KMM Building in Kokura district.
Genkai Capital Management Co., Ltd., a Kyushu real estate investment company of Fukuoka City, announced its purchase of the KMM Building, an office building located in Kokurakita-ku, Kitakyushu City, on March 12. Worth some ¥5 billion, the purchase represents the company's first property acquisition in Kitakyushu City. Located in close proximity to the north exit of the JR Kokura Station, the large building features 10 above-ground floors and a total of approximately 25,400 m² of floor space. It was purchased from real estate developer Harakosan Co., Ltd. of Shimonoseki City, Yamaguchi Prefecture. Genkai Capital Management plans to bolster the value of the property by investing some ¥500 million to renovate common areas. Genkai Capital Management operates real estate investment funds, investing mainly in property located in Kyushu. The KMM Building was acquired with funds from the Genkai Capital Fund 2, a ¥50 billion fund launched in August of last year.
