Lead Real Estate Co., Ltd. Announces Sale of Three Luxury Condominiums in Prime Locations of Tokyo and Kanagawa

Rhea-AI Summary

Lead Real Estate Co., (Nasdaq: LRE) has announced the successful sale and delivery of three newly constructed luxury income-producing condominiums in prime locations of Tokyo and Kanagawa, Japan in June 2024. The properties include:

• Excelsior Shinjuku Kawadacho: A 16-unit property in Tokyo with 3 floors and 1 basement
• Excelsior Yokohama Nakayama: A 19-unit property in Kanagawa with 7 floors
• Excelsior Yokohama Sakuragicho: A 20-unit property in Kanagawa with 11 floors

All properties are made from reinforced concrete and vary in building and land area. The sale price and seller details remain undisclosed due to a confidentiality agreement. LRE confirms no special interests or relationships with the seller.

Positive

• Successful sale of three luxury condominiums in prime locations
• Diversification of property portfolio across Tokyo and Kanagawa
• Completion of income-producing assets, potentially boosting revenue

Negative

• None.

TOKYO, Japan, July 15, 2024 (GLOBE NEWSWIRE) -- Lead Real Estate Co., Ltd. (Nasdaq: LRE) (“LRE” or “the Company”), a Japanese real estate developer of luxury residential properties including single-family homes and condominiums across Tokyo, Kanagawa prefecture and Sapporo, today announced that, in June 2024, it completed the sale and delivery of three newly built single luxury income-producing condominiums in prime locations of Tokyo and Kanagawa, Japan.

A 16-unit property, Excelsior Shinjuku Kawadacho, located in Shinjuku Kawadacho, Tokyo, is made from reinforced concrete and has one basement floor and three floors above ground. It has a building area of 8,203 square feet and land area of 3,301 square feet.

The Excelsior Yokohama Nakayama, located in Yokohama Nakayama, Kanagawa, is a 19-unit property made from reinforced concrete. It has seven floors above ground, a building area of 12,949 square feet and land area of 3,690 square feet.

A 20-unit property, Excelsior Yokohama Sakuragicho, located in Yokohama Sakuragicho, Kanagawa, is made from reinforced concrete and has 11 floors above ground. It has a building area of 9,795 square feet and land area of 1,344 square feet.

Due to a confidentiality agreement with the seller, the seller and the sale price are not disclosed. There are no capital, personal, or business relationships between the Company and the seller, and there are no special interests between the Company and the seller.

About Lead Real Estate Co., Ltd

Lead Real Estate Co., Ltd is a Japanese developer of luxury residential properties, including single-family homes and condominiums, across Tokyo, Kanagawa prefecture, and Sapporo. In addition, the Company operates hotels in Tokyo and leases apartment building units to individual customers in Japan and Dallas, Texas.

The Company’s mission is to serve its customers by offering stylish, safe, and luxurious living. The Company’s vision is to adopt the Kaizen (continuous improvement) approach to seek to improve its operations, and to leverage its nationally recognized, award-winning luxury homes and strong market position in the luxury residential property market in Tokyo, Kanagawa prefecture, and Sapporo to create a global transaction platform allowing access to prime Japanese condominiums as well as overseas condominiums, including in the U.S. and Hong Kong.

For more information, please visit the Company’s website at https://www.lead-real.co.jp/en/.

Forward-looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors that may affect its future results in the Company's registration statement and in its other filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information:

For Media and Investor Relations
Daisuke Takahashi
Chief Financial Officer
Lead Real Estate Co., Ltd
d-takahashi@lead-real.co.jp
+81 3-5784-5127

Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the America’s, 5^th Floor
New York, NY 10036
Office: (646) 893-5835
Email: info@skylineccg.com

FAQ

What properties did Lead Real Estate (LRE) sell in June 2024?

LRE sold three luxury condominiums: Excelsior Shinjuku Kawadacho in Tokyo, and Excelsior Yokohama Nakayama and Excelsior Yokohama Sakuragicho in Kanagawa.

How many units are in each of the condominiums sold by LRE?

Excelsior Shinjuku Kawadacho has 16 units, Excelsior Yokohama Nakayama has 19 units, and Excelsior Yokohama Sakuragicho has 20 units.

What is the construction material used for the LRE condominiums?

All three condominiums sold by Lead Real Estate (LRE) are made from reinforced concrete.

Did Lead Real Estate (LRE) disclose the sale price of the condominiums?

No, LRE did not disclose the sale price of the condominiums due to a confidentiality agreement with the seller.