Aetos Capital offloads Simplex for $1.3b

The US fund sells Simplex to Japanese developer Hulic for ¥155 billion.

US investment management firm Aetos Capital Real Estate said on Wednesday it has agreed to sell Simplex Investment Advisors Group to Japanese real estate operator Hulic for ¥155 billion ($1.3 billion).

Simplex has a portfolio of 13 real estate assets, with a large exposure to central Tokyo. The company’s properties are a mixture of commercial office buildings, retail, and one official Tokyo Disney Resort hotel. The company also manages over ¥150 billion in assets for third parties.

Aetos Capital, which that invests in real estate in Asia, principally Japan and Greater China, acquired a 50% interest in Simplex in 2007. As part of a recapitalization post-financial crisis in 2011, Aetos Capital became the 100% owner.

“After the financial crisis, we recapitalized the company, secured 100% ownership of the equity, changed management, sponsored and sold assets to a J-REIT, and streamlined operations and the business strategy,” said Scott Kelley, founder and CEO of Aetos Capital Real Estate in a statement.

Aetos Capital Real Estate was advised by Mitsubishi UFJ Morgan Stanley Securities as sole financial advisor and Morrison & Foerster as sole legal advisor.

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