Minato Starts Construction Work for the Joint Investment Project in Real Estate in Fukuoka City
Please be informed by Minato Management Co., Ltd. (headquartered in 1-1-12 Toranomon, Minato-ku, Tokyo, Japan; President (CEO) Tatsuto “Tad” Kuramoto) that construction work commenced for the joint investment project in real estate in Fukuoka City, Fukuoka Prefecture on March 4, 2020.
Minato Management has been engaged in the real estate investment business since June 2018. This matter concerns the commencement of construction work on the land acquisition which was announced in the news release dated May 7, 2019, entitled “Minato Launches Joint Investment Project in Real Estate in Fukuoka City, Fukuoka Prefecture.”
We have been going forward with this as a joint development project with NK Trust Co., Ltd. (headquartered in 4-1-4-1 Yakuin, Chuo-ku, Fukuoka City, Fukuoka Prefecture, Japan; President (CEO) Tomoaki Motai; hereinafter referred to as “NK Trust”) as in the case of our earlier joint housing development project, which succeeded in realizing the early sale (exit) of real estate in the same neighborhood in April 2019. With respect to real estate, NK Trust has a strong network in the Kyushu region centered on Fukuoka Prefecture and a high level of experience and proven track record in planning and constructing high-quality housing. Whereas NK Trust plans buildings that are suitable for the acquired land, Minato Management raises funds necessary for the development and make the investment. Both companies jointly develop profit plans and exit strategies.
Minato Management will continue to proactively invest in real estate across Japan in order to rejuvenate regional economies. Additionally, by developing a business environment necessary for the forming of funds and making of investments, the company is looking to promote an economic circulation based on “local production and local consumption” by collaborating with local companies.
[Outline of the Investment Property]
Location: Hakata-ku, Fukuoka City, Fukuoka Prefecture
Size of land: 132.3 square meters
Structure of planned building: Ten-story building made of reinforced concrete
Planned use of building: Apartment
Planned completion of construction: March 2021