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- Sun Street Kameido
| Acquisition Date: |
March 2004 |
| Location: |
Tokyo |
| Property Type: |
Retail |
| Property Size: |
37,856 sqm |
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APL installed its asset manager on-site, which helped to reduce operating expenses |
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Rental increases achieved through strategic conversion of floor space |
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Lease renewals and conversions to new-style, fixed-term leases. To date, completed tenancy conversion allows for increased flexibility in management |
- Sun Street Hamakita
| Acquisition Date: |
March 2008 |
| Location: |
Hamakita |
| Property Type: |
Retail |
| Property Size: |
47,348 sqm |
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Seiyu / Wal-Mart was looking to partner with an asset manager to build a shopping center anchored by its first supercenter in Japan |
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Negotiated for Seiyu / Wal-Mart to hold the asset during the construction and commit to sell at cost to APL after completion |
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Project management: APL was retained as the project manager responsible for construction management, design and leasing |
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Creative leasing: leased space to approximately 60 tenants, resulting in a diversified and unique tenant mix |
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Leveraging past success: Implemented value-added property management and events planning derived from APL’s Sun Street Kameido asset management expertise |
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Completion financing: APL secured a senior loan from a Japanese balance sheet lender together with mezzanine financing |
- Midtown
| Acquisition Date: |
June 2008 |
| Location: |
Shenyang |
| Property Type: |
Retail |
| Property Size: |
51,600 sqm |
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7-storey brand new grade A retail center |
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Designed by renowned retail architects, Palmer & Turner |
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Located within central Shenyang, the fastest growing secondary city in China and the largest city in the Northeast region |
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Directly adjacent to the new Shenyang Metro |
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Opened in December 2009
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Thorough market study: identified significant gap in the market for upper-mid international-grade shopping centre |
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Project management: APL was retained as the project manager responsible for completion of construction, leasing, marketing and tenancy delivery |
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Creative, successful leasing: commitments secured for flagship stores of new-to-market brands, generating a unique tenant mix including fashion, F&B, sports and a cinema |
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Summary
