Acquisition of the office building “Tilt 49” in the business district of Seattle

Acquisition of the office building “Tilt 49” in the business district of Seattle

Takenaka Corporation (President: Masashiro Miyashita) has recently acquired a newly constructed building, “Tilt 49 Office”, in the business district of Seattle, Washington, which is experiencing remarkable growth as a hub for the IT industry in the United States, through its newly established US subsidiary, Tilt 49 Realty LLC (Representative: Akihiro Tachibana).

This property has been leased in its entirety by Amazon Corporate LLC, and we have acquired it based on a comprehensive assessment of the building’s location, potential and profitability, aiming to expand our group’s overseas real estate holdings into new regions within the United States.

The surrounding area of this building is in the heart of a business district where numerous office buildings housing Amazon, which employs approximately 40,000 people in Seattle, are situated. It is also a hub for other major IT- related companies such as Google and Facebook.

As part of our overseas real estate portfolio, our group already owns four office properties (Heron Tower in New York, Nippon Club Tower, 400/430 California Street in San Francisco, One Fleet Place in London) and three hotel properties (Andaz 5th Avenue in New York, Hotel Nikko San Francisco, Grand Hyatt Kauai in Hawaii) in the United States and the United Kingdom. With this acquisition, it will be our eighth overseas property.

Takenaka Corporation and KENNEDY WILSON Acquire 400/430 California Street

Takenaka Corporation and KENNEDY WILSON Acquire 400/430 California Street

Takenaka Corporation (President: Masahiro Miyashita) has joint-ventured with KENNEDY WILSON (CEO: William J. McMorrow) to acquire the asset in San Francisco. The new American subsidiary, 400 California LLC (President: Akihiro Tachibana) has acquired 400/430 California Street, an office building and bank branch.

Located in the central NOMA (North of Market Street) District in San Francisco, 400/430 California Street consists of a low-rise bank branch designated as a historical landmark, and the office tower adjacent to it. In the near future, MUFG Union Bank, the previous owner, will leaseback for a few years. The property will be leased for new tenants after the renovation work.

Takenaka Acquires Andaz 5th Avenue

Takenaka Acquires Andaz 5th Avenue

Takenaka Corporation, one of the largest architecture, engineering and construction companies in Japan, has completed today its acquisition of Andaz 5th Avenue, a boutique hotel property located in the fashionable Bryant Park area of Midtown Manhattan, from an affiliate of Hyatt Hotels Corporation. The hotel will continue to be managed by Hyatt and operated under Hyatt’s Andaz brand pursuant to a long term management agreement. The hotel sits across from the iconic New York Public Library, is steps away from Grand Central Terminal and Times Square, and boasts spectacular views of the Empire State Building. The 485 Fifth Avenue location was the last Rogers, Peet & Co. department store built in 1914, later became the Tommy Hilfiger global headquarters, and opened as the second Andaz property in New York in 2010. The brick and limestone exterior is reminiscent of the industrial era, while the interior, created by the world-renowned hospitality designer Tony Chi, was inspired by pre-war loft apartments featuring floor-to-ceiling windows, exposed pipe ceilings and residential style furnishings. The hotel includes 184 guest rooms (including 42 hotel suites), a full-service restaurant on the ground floor, a popular bar in the cellar, and an open-air courtyard adjacent to expansive meeting and event space.

Takenaka Corporation’s real estate portfolio includes commercial, residential, and hotel assets in Japan, London, New York, San Francisco and Hawaii.