Three Japanese companies jointly begin acquiring multi-unit housing units in Seattle [PDF:247KB]

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This translation of the original Japanese notice is provided for informational purposes only. In the event of discrepancies between this translation and the Japanese original, the latter shall prevail.

May 31, 2022

Kanden Realty & Development Co.Ltd.

Hankyu Hanshin Properties Corp.

Daiwa Securities Realty Co.Ltd.

Three Japanese companies start Multi Unit together

Housing purchase in Seattle

Kanden Realty & Development Co.Ltd. (President: Kenichi Fujino; Headquarters: Kita-ku, Osaka), Hankyu Hanshin Properties Corp. (President and Deputy Director: Ryuichi Morotomi; Headquarters: Kita-ku, Osaka) and Daiwa Securities Realty Co. Ltd. (President and Deputy Director: Toshio Fukushima; Headquarters: Chuo-ku, Tokyo) has retained United States-based Wilshire Capital Partners (“Wilshire”) (company overview described below) as business partners to begin the acquisition of Fox and Finch Apartments (“Fox & Finch”), an apartment building in Seattle, Washington. These three Japanese companies decided to acquire this property in February and March 2022 and are now completing the acquisition.

■Project overview

This project consists of investing in a real estate holding company through an investment company of each subsidiary of the three Japanese companies.

This property and these holding and investment companies are operated and managed by Wilshire, which operates a real estate business on the west coast of the United States.

■Property and territory characteristics

Fox & Finch is a recently completed 49 unit residential development with retail outlets on the ground floor. Wilshire developed this property and the project was completed in 2017.

Fox & Finch is located in the booming tech hub of South Lake Union just north of downtown Seattle. The South Lake Union area is Seattle’s hottest business district and home to tech giants Amazon, Facebook (Meta), Google and Apple’s new Northwest headquarters. Both residents and business owners are drawn to this neighborhood for its walkable infrastructure, myriad amenities, tech campuses, and lakefront access. This is a property that is expected to see strong demand and rent increases.

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