–Execution of Agreements to Provide Asset Management Services for 18 Residential Properties in central locations – New Mandate from Leading Global Investor, Allianz Real Estate

Tosei Corporation (“the Company”; Registered Office: Minato-ku, Tokyo; President and CEO: Seiichiro Yamaguchi;Securities code: 8923) announced that Tosei Asset Advisors, Inc. (“TAA”; Registered Office: Minato-ku, Tokyo; President & Representative Director: Kaname Wakabayashi), its wholly owned subsidiary, has signed agreements to provide asset management services for a portfolio of residential properties acquired by Allianz Real Estate, which is the real estate arm of the leading German insurer Allianz Group.

This mandate to provide asset management services for real estate assets acquired by Allianz Group was awarded based on continuously cultivated relationship

TAA executed agreements to provide asset management (AM) services for residential properties acquired by Allianz Real Estate today. The target properties are 18 residential properties centrally located in the 23 wards of Tokyo. They are characterized by their newness and convenient access to the nearest station. The total value of these properties is around 17.2 billion yen. This is the third AM mandate for TAA from Allianz Real Estate since the first one for 82 residential properties with the total value of 130 billion yen in December 2019. Residential properties in central Tokyo are favored by overseas investors as resilient assets from which stable revenue can be expected. We see that this asset class will continue to capture the strong attention of the investors.
TAA has built up a significant track record in AM services with investors community around the world, including the United States, Europe and Singapore. Its assets under management have exceeded 1 trillion yen (as of September 2020).Capitalizing on its ability to flexibly address the needs of investors, TAA aims to further enhance the connection with investors locally and globally going forward.