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GENKAI Retail Management

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GENKAI Capital Management Co., Ltd. > GCM Business > Case studies (Tokyo)

Case studies (Tokyo)

Asset management of a large business center in central Tokyo

Providing creative asset management solutions for various issues distinctive to large business centers.

 

The role of GCM

Due to a frequent change of ownership, major tenants, and asset managers, a variety of problems had been left unsettled before we undertook this project. In close coordination with the new property manager, we are taking measures to stabilize operation and improve profitability by bolstering the leasing business, heightening tenant satisfaction, reducing costs, improving facility features, reconstructing the administrative setup, and partnering with businesses in the vicinity.

Class A office building reconstruction project in central Tokyo

Promoted a joint development project with a major developer that was also the project manager and co-owner of the building.

 

The role of GCM

Development projects typically involve constant changes in schedules and costs, and require a high-level of collaboration with developers. In this project, while basing our activities on the development partner’s policy, we played a key role in management, negotiation, and adjustment of scheduling, cost management, specifications, leasing, and operating methods without losing sight of our objective of maximizing return for our investors.

Restructuring of the management of a large-scale residential tower

Despite its advantageous location in central Tokyo, the residential tower’s occupancy rate was lower than expected due to inadequate operation. We increased the occupancy rate by replacing the property manager and successfully sold the property.

 

The role of GCM

We instructed the new property manager to adopt a stricter tenant approval standard and to widen the scope of leasing activities by providing leasing agents with detailed information and incentives. In addition, we improved relations with the management association for a more flexible operation to raise the occupancy rate and degree of satisfaction among tenants.

As a result, we successfully sold the property at a price exceeding the investor’s expectations by stabilizing the operation and broadening the range of potential buyers.

Replacement of an undependable nursing home operator

Due to a low occupancy rate, the former nursing home operator was suffering credit problems. We stabilized the cash flow by replacing them with a creditworthy operator.

 

The role of GCM

In connection with the Act on Social Welfare for the Elderly, administrative guidance requires unanimous consent of residents for replacement of operators, which was difficult to obtain. Residents were concerned how their deposit would be handled and whether the new operator could provide the same level of service as the former. After assiduous explanation and negotiation with each resident, we successfully obtained the consent of every person.

We simultaneously implemented debt restructuring, coordinated the interests of investors and lenders, and built a consensus on the issues surrounding the operator replacement.