The following are representative projects led by the founding team prior to Alpha Asia, spanning resorts, multifamily and Grade-A offices, reflecting long-term experience in Japanese real estate investment, development and operations. Figures reflect the team's prior track record and are not a commitment by AA nor a current managed mandate.
Hokkaido's largest ski resort — ~582 ha with 25 ski runs, 18 restaurants, a golf course and Japan's largest indoor wave pool, with 1,067 rooms in operation at acquisition, run by the leading Japanese hotel brand Hoshino.
After acquisition, the team redesigned and rebuilt idle properties and unused land on site, adding 340 rooms and materially lifting total resort revenue. The new hotel introduced the ClubMed brand, substantially raising the share of overseas guests.
| Metric | Result |
|---|---|
| IRR | ~15% |
| Equity multiple | ~3.0x |
A dedicated managed account established for a large European pension to invest in Japan multifamily, continuously optimising allocation near rail stations across Tokyo, Osaka and Nagoya — ~3,200 units / ~116,000 sqm NRA under management at peak.
Acquiring near-completion projects directly from developers and taking leasing risk in exchange for a purchase-price discount; the local asset-management team's leasing capability achieved near-full occupancy at completion.
| Metric | Result |
|---|---|
| IRR | ~21% |
| Equity multiple | ~1.72x |
A Grade-A office in Tokyo's Shinagawa ward, ~18,868 sqm of leasable area. At acquisition, the sole tenant, Citi, had confirmed it would vacate in six months, posing a risk of full vacancy.
Using the window of full vacancy after the tenant left, the team carried out a comprehensive renovation that materially improved the asset's competitiveness in the leasing market, reaching full occupancy six months after completion.
| Metric | Result |
|---|---|
| IRR | ~22% |
| Equity multiple | ~2.0x |
A Grade-A office in Tokyo's Shinagawa ward, ~35,778 sqm of leasable area, with vacancy as high as 60% at acquisition.
A moderate renovation, with the local asset-management team's leasing capability achieving full occupancy 12 months after acquisition.
| Metric | Result |
|---|---|
| IRR | ~46% |
| Equity multiple | ~2.25x |
A Grade-A office in Tokyo's Chuo ward, ~50,191 sqm of leasable area. At acquisition, the anchor tenant, Sumitomo Corporation, had confirmed it would vacate in two years, posing a risk of 60% vacancy.
A small-scale renovation; leveraging the local asset-management team's leasing capability, pre-leasing achieved full occupancy before Sumitomo vacated.
| Metric | Result |
|---|---|
| IRR | ~23% |
| Equity multiple | ~2.55x |
