Office Development - Build to Core Strategy
In December 2018, after successfully securing exclusivity, Alyssa Partners jointly with AXA IM Alts’ acquired two adjacent old buildings in a prime location in Roppongi, Tokyo, with the strategy to build a new office building.
In addition to sourcing and securing the investment opportunity, Alyssa Partners identified and negotiated with a global serviced office operator a full pre-let on a long lease basis.
Alyssa Partners retained one of the leading asset/development managers to execute the project and ensure a smooth construction and delivery process.
The CASBEE A rated new building was completed in July 2021 with circa 3,600 square meters of prime office space over nine floors and started operating in September 2021 as a serviced office.
The transaction was subsequently exited through a sale to a third party investor exceeding initial underwriting.