Project IAP is a luxury residential development program in central Tokyo, run by IAP Homes KK, a subsidiary of APL
The program started in 2002 to exploit relatively low land prices for small or irregular-shaped plots in central Tokyo and develop well-designed products at low costs to maximize investment returns
Strengths / Highlights
Best Timing : assets were sold immediately following stabilization
Evolving disposition strategy:
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sales efforts for earlier projects targeted small to mid-sized private funds
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increasing demand for quality product allowed for expanding the buyer pool with lower return hurdles including listed REITs
Summary
