Quraz acquires 49th property

Quraz Japan’s largest self storage owner/operator resumes buying activities with acquisition of 49th location  Following achange of ownership in September, 2013, Quraz again actively sourcing properties

On August 28, 2014, Quraz acquired a new property in Suginami-ku, Tokyo. Following the new property’s development and anticipated opening in the first half of 2015, this will bring to 49 the total number of properties that Quraz operates.
Also, this marks the first new property acquired by Quraz since Evergreen purchased the business in September, 2013. To meet the ongoing growth in self storage demand and with Evergreen’s support and commitment to self storage in Japan, Quraz is targeting to grow its real estate footprint by 10% per year, or by 5-6 new properties per year.

New property and transaction overview

Name Quraz Asagaya
Address 6-1-6 Asagaya Kita, Suginami-ku, Tokyo
Acquisition date August 28, 2014
Access 14 min walk from JR Asagaya Station
Site area 663m2
Total floor area 1,102m2
Structure Steel construction, flat-roofed, three-story building
Usage Currently office, warehouse and parking (to be converted to self storage)
Transaction Quraz, Ltd. purchased the property on August 28, 2014. Following it’s purchase, Quraz, Ltd. entrusted the property and transferred the trust beneficiary interest to its sister SPC, Tokiwa Two TMK, on September 26, 2014.

Acquisition policy

Quraz is actively sourcing properties that meet the following key criteria

Geographic area Greater Tokyo, Osaka, Nagoya, Fukuoka and Sapporo
Size Total floor area of 300-1,000 tsubo
Building usage Office and/or warehouse, in relatively dense residential neighborhoods
Others Vacant or about to become vacant, building structure meets current seismic standards, compliant with the relevant laws and regulations, and owner is in possession of construction certificate

About Quraz

Quraz, Ltd. and its three sister company TMKs which own the Quraz branded assets (together, “Quraz”) are all 100% owned and controlled by Evergreen. Quraz is headquartered in Tokyo, is Japan’s largest self storage owner/operator with nearly 30,000 self storage units across 49 locations in 10 cities from Sapporo to Fukuoka, including 36 stores in Greater Tokyo*. Quraz has ranked #1 among Japanese self storage operators by the Oricon Consumer Survey for the past five consecutive years in the categories of brand recognition, customer satisfaction and value. Quraz has 175 employees serving its residential and commercial customers.

  • *: Largest self storage company as measured by number of indoor rental storage units in Japan. Yano Research Institute Ltd. June 2013.

Quraz stores are distinguished by three qualities

  • Presence - Well-located, well-signed, purpose-fit buildings in dense residential areas that command a presence in their neighborhoods.
  • Convenience - Onsite staff enable same-day visit and sign-up, facilities accessible 24-hours per day with free parking for easy loading.
  • Comfort - All Quraz stores have clean and bright interiors with multiple layers of security and centrally monitored climate control.
Quraz
Company Name Quraz, Ltd., d/b/a Quraz
Founded 2001
Capital JPY450 million
President and Representative Director Stephen Spohn
Number of Employees 185 full and part-time staff as of September, 2013
Business Rental-storage owner and operator
Corporate Headquarters 3F Estage osaki. 3-5-2 Osaki, Shinagawa-ku, Tokyo 141-0032

About Evergreen

Evergreen Real Estate Partners LLC (“Evergreen”) is a US$3.4 billion global real estate investment partnership affiliated with M3 Capital Partners, a real estate investment and advisory firm with offices in Chicago, New York, London, Hong Kong and Sao Paulo.
Evergreen has strategic investments in 13 specialized real estate companies operating on five continents in multiple property sectors. Evergreen is also a leading institutional investor in the global self storage market. In addition to Quraz, Evergreen has significant self storage investments in the United States (The Lock Up Self Storage), in Europe (Pelican Self Storage) and in Brazil (GoodStorage).

Contact details
Quraz Ltd.    TEL: +81-3-6830-8650/E-mail: yhagiwara@quraz.com

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