Mitsui Fudosan Group Expands U.S.
Residential Housing Portfolio
New developments in Denver, Colorado and Boston, Massachusetts

June 17, 2019
Mitsui Fudosan Co., Ltd.

Key Points of the Projects

• Mitsui Fudosan partners on residential rental projects with Cypress Real Estate Advisors on Denargo Market III (tentative name) in Denver, CO and with Wood Partners on 290 Revolution Drive (tentative name) in Somerville, MA
• These residential developments mark the first time Mitsui Fudosan has launched projects in the Denver and Boston areas
• Mitsui Fudosan has now participated in the development of 15 rental housing properties across the U.S. (approx. 4,900 housing units)

Tokyo, Japan, June 17, 2019 - Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today, through its U.S. subsidiary, Mitsui Fudosan America, Inc., the development of Denargo Market III (tentative name), a residential rental project in Denver, Colorado, and 290 Revolution Drive (tentative name), a residential rental project in Somerville, Massachusetts, located just outside Boston, Massachusetts.

Since 2013, the company has actively expanded its residential rental portfolio across the United States, with properties in New York, San Francisco, Los Angeles, Washington D.C. and Seattle, totaling approximately 4,900 units, including these soon to be built properties. The newly announced developments mark the first time that Mitsui Fudosan will partner to develop properties in Denver and the Boston area.

Both rental developments are situated near public transportation, providing easy accessibility for residents who commute, and are adjacent to major employment, retail and entertainment hubs. The partners on each project have track records of success which combines with Mitsui Fudosan’s expertise in residential housing development cultivated over many years as a leading real estate company in Japan.

The Mitsui Fudosan Group’s long-term mission is articulated in its VISION 2025 strategy, which advances its evolution as a global company and its commitment to the support of a sustainable society through the creation of neighborhoods that harness technology and promote innovative real estate development. The Group is engaged in projects across Asia, in China and Taiwan and throughout Southeast Asia, and has developed and acquired numerous properties in the U.S. and Europe. In the U.S., the Group’s portfolio features both commercial and residential buildings, including the 55 Hudson Yards office building in Manhattan, New York, which was opened in October 2018 and is now nearly fully leased. As it continues its overseas expansion, Mitsui Fudosan will deploy on a global basis the strength of its business model developed in Japan.

Perspective image of Denargo Market III (tentative name)

Perspective image of 290 Revolution Drive (tentative name)

Features of Each Project

(1)Denargo Market III (tentative name)

Denargo Market III is a premier 337-unit, Class A multifamily development within the River North (RiNo) neighborhood of Denver. Ideally situated on 2.47 acres in the flourishing RiNo neighborhood, the property is poised to benefit from the rapid growth and development in RiNo and close proximity to the major employment center of downtown Denver. The recently opened 38th and Blake St. commuter rail station offers connectivity to Denver International Airport and Denver’s light rail network The project is located within walking and cycling distance of Denver’s CBD, the Union Station neighborhood, and Coors Field. The joint developer on the project is Cypress Real Estate Advisors, a real estate investment advisor and development firm headquartered in Austin, Texas.

Perspective image of Denargo Market III(tentative name)

(2)290 Revolution Drive (tentative name)

290 Revolution Drive is a premier 329-unit, Class A multifamily development in the Assembly Square area in Somerville, Massachusetts. Perfectly situated on a 1.8-acre site, Assembly Row has evolved into a true retail and entertainment attraction, with high-end outlet shopping, a movie theatre, fitness studios, as well as locally renowned restaurants and microbreweries. The site is located on the corner of Grand Union Boulevard and Revolution drive a three minute walk to the entrance to the “Assembly” T stop (Boston Subway Orange Line) providing excellent access back to downtown Boston with North Station an 8-minute ride and Downtown Crossing an 11-minute ride away. The property will include a host of amenities, including a full gym, adult lounge, pool, and outdoor courtyard. The property will be developed as part of a larger master planned, mixed-used community by the Cresset Group. The partner on the project is Wood Partners, an Atlanta, Georgia-based multifamily real estate developer.

Overview of Property and Development Project (planned)

Maps

Denargo Market III (tentative name)

Map of the surrounding area

Detailed map

290 Revolution Drive (tentative name)

Map of the surrounding area

Detailed map

Development of Rental Housing Businesses in the U.S.
East Coast

West Coast