Asian alternative investment management firm makes significant real estate investment in Tokyo

Client(s) Asian alternative investment management firm

Jones Day represented an Asian alternative investment management firm in connection with an investment in real estate located in central Tokyo. The property will be developed for a mixed-use complex of office, residence and hotel space. The Jones Day team structured the transaction using a complex "double TMK structure", which is a tax-efficient securitization structure in which the client's investment was made in the form of secured bonds, secured loans and preferred shares. The secured bonds were subordinated to a senior secured bank facility, which will be funded during the development phase.