The Crane residential portfolio comprises 25 individual properties, offering 328 units with a total renting space of 10,000 sqm. The buildings have been constructed by some of Japan's most prestigious project developers. All apartments are centrally located in Tokyo's lively and populous heart of town, the unique 23 wards. Due to this centrality, the connection to public transport is excellent: the nearest train station is never more than a 10-minute walk away.
Portfolio of 25 individual residential properties
328 units with a total of almost 10,000 sqm of renting space
Almost fully let
Japan's capital Tokyo is one of the world's most fantastic metropolitan destinations. Famous for its history, culture and tradition, the Tokyo of today consists of scores of cities, towns and villages but is most recognisable through its 23 central city wards, similar to boroughs in London or New York. Amongst tourists, the 23 wards are the most prominent part of the town as they are close to many facilities such as shops, sightseeing spots, restaurants and bars. Residential property is here highly attractive and much sought after.
The acquisition of the Crane portfolio emphasises AM alpha's strategy for Asia, which focuses very much on local presence. Close monitoring of changing trends in tenant preferences and timely room improvement initiatives enabled us to stabilise the average portfolio occupancy. However, several states of emergency were declared in Tokyo in response to the Covid pandemic, with many people leaving the central districts for good.