Home Add to Favorite Contact Submit  
           20 September, 2019

Category:  Press » Real Estate


New City Residence Investment Corporation Shareholders' Group Established

         Views: 1162
2008-11-11 04:19:39     
New City Residence Investment Corporation

Tobias Josef Brown, Managing Director of UCL Asia Ltd. (Hong Kong), who is among the largest shareholders of New City Residence Investment Corporation (NCRI) holding about 8.3% of its stock, today announced the establishment of the NCRI Shareholders' Group.

Aligned with the principals of good corporate governance, the objective of the NCRI Shareholders Group is to protect the rights of all NCRI unit holders, including NCRI's numerous individual investors.

New City Residence Investment Corporation, a Japan based real estate investment trust (J REIT), filed for civil rehabilitation proceedings on October 9, 2008, and was de-listed from the Tokyo Stock Exchange (TSE Code 8965) as of November 10, 2008.

The NCRI Shareholders' Group has the utmost respect for the civil rehabilitation proceedings being administered by the Japanese courts. J REITS were originally intended to be a relatively safe income yielding investment security for retired individual investments, pension funds, and other conservative investors. As such, Japanese courts and other interested parties have a particular obligation to protect unit holders.

Importantly, the NCRI Shareholders' Group believes that the interests of all stakeholders, including investors, employees, and creditors, would be best served by the appointment of strong independent management of NCRI. Such independent management would be free of connections with NCRI sponsor and also have close ties to and be highly respected by the local Japanese banking and business community.

According to Tobias Josef Brown, "NCRI is Japan's second largest residential J-REIT. Most of its relatively new real estate assets are located in Tokyo's 23 wards, mainly in the most central areas of the city. Although now in civil rehabilitation proceedings, NCRI still has substantial equity on its books. Accordingly, it is vital that all unit holders, including numerous individual investors, receive the optimum value on their unit holdings. We call upon Nikko Citigroup Limited, NCRI's financial advisor, the Japanese courts, and other interested parties to make sound judgments to fairly protect all stakeholders, regardless of whether they are Japanese, non-Japanese, institutions, or individuals."

Tobias Josef Brown, Managing Director of UCL Asia Ltd. (Hong Kong) has a proven investment track record and had previously worked for 15 years as Chief Investment Officer for the global investment operations of the late Sir James Goldsmith, and was formerly Chairman of the Noble Group (SGX: NOBL), a global supply chain manager of agricultural, metals, minerals and ores, and energy products. As a contrarian investor, Mr. Brown has been involved in major MBO, M&A, and other strategic investments throughout the Asian Pacific region, and is committed to the principles of good corporate governance.

For further information, please contact Edelman Japan K.K.

Thomas R. Zengage


+81-3-5530-9300 / +81-3-6403-5202

Mobile: +81-90-4533-5007

Specialized in: New City Residence Investment Corporation - Shareholders - Group Established
Print press release      Bookmark this page
Related Press releases 
Miami Luxury Real Estate Now Marketed Online at Housing Company Website (Popularity: ): Miami, FL - March 21, 2014 -- Purchasers of luxury homes in the state of Florida now have a new resource to use for locating Miami luxury real estate online. The Lucnar Properties company has included new listings of its available properties for sale at lucnarproperties.com.The marketing of these homes now takes place on the Internet to supply easier access to purchasers who are ready to make a purchase this ...
MeetMyAgent Comments as Co-Operative Bank Launches 10% Mortgage (Popularity: ): London, United Kingdom (26 November, 2012) – MeetMyAgent.co.uk, an independent estate agent review and rating website, comments after the Co-Operative Bank announced the launch of a two-year fixed rate mortgage for borrowers with a 10 per cent deposit, and charges under 4 per cent interest.The mortgage from the Co-operative Bank carries no set-up fee, and charges 3.99 per cent until 31st December 2014. This offer is now the UK’s official ...
Spaze Towers is Launching its Retail Project (Popularity: ): 21st November, 2011, Gurgaon: Spaze Towers Pvt Ltd is launching Palazo(Retail) in near future. It is a form of integrated Commercial Park with eye pleasing architecture. This park is likely to have ultra modern business center, offices, retail outlets and multi-cuisine restaurants everything together.Senior marketing, Spaze, shares, “We wish to bring revolution in the country and thus, bring noticeable change in real estate. In this regard, we have brought this ...
Aviv REIT, Inc. Announces First Quarter 2011 Earnings Results (Popularity: ): CHICAGO, May 27, 2011 -- Aviv REIT, Inc. ("Aviv" or the "Company") released its earnings for the quarter ended March 31, 2011. The financial statements and related information, including a reconciliation of non-GAAP financial measures used in this press release to the most directly comparable GAAP financial measures, have been posted to the Company's website. A conference call to discuss the 2011 first quarter earnings will take place on June ...
Emaar MGF Land Limited Launched a Residential Project “Palm Gardens” in Sector – 83, Gurgaon (Popularity: ): Emaar MGF launched a brand new residential project palm gardens in Gurgaon sector – 83 which is adjacent to NH – 8.It consist 3 and 5 bedrooms apartments, duplex and penthouses with modern facilities like sports court of badminton, tennis, basket ball and convenient shopping. Palm Gardens is located at sector – 83 Gurgaon and is at Walking Distance from proposed metro station, very near to NH-8, 2 KM from ...

Related Business 
One Investment Group (Popularity: ): One Investment Group is an independent Australian funds management business established to provide Responsible Entity, Trustee and Investment Management services. One Investment Group specialises in a range of asset classes including real estate, aviation, shipping, private equity, infrastructure and hedge funds. Entities within One Investment Group currently operate as Responsible Entity of numerous registered schemes and as Trustee of more than 50 unregistered schemes.
American Pharmacy Services Corporation (APSC) (Popularity: ): APSC is a cooperative owned and operated by independent pharmacy shareholders. The mission of APSC is to promote the professional and economic development of shareholders in the pharmacy marketplace.
Property Investment (Popularity: ): McCarthy Group are the property Investment experts. We have been established over ten years on the Australian property investment market.
The Overseas Private Investment Corporation (Popularity: ): The Overseas Private Investment Corporation is an "independent" U.S. Government agency that sells investment services to assist U.S. companies investing in some 140 emerging economies around the world. A self-sustaining government corporation with current reserves of more than $3 billion, OPIC assists U.S. private investment overseas.
Apartment For Rent In Milan (Popularity: ): Our residence, located near the city of Milan, is the ideal solution for those who need to spend some time in the city, both aspects during the holiday season, which for reasons of work or study. The residence Pian della Nave offers a great alternative to staying in a hotel, with all the conveniences offered by an apartment furnished.
Western States Investment Group (Popularity: ): Investment focus: San Diego-based start-ups through established businesses in medical devices, telecommunications and electronics.
Water Stone Group (Popularity: ): WaterStone Group is an investment company whose passion is real estate. We love to find ideal properties in the New York City area that are ripe with potential investment opportunities for our clients. Our mission is to bring our investors a whole new level of wealth. Our track record will attest to the fact that we are good at what we do!
Lathrop Investment Management Corporation (Popularity: ): Investment counsel to a select group of clients desiring discretionary portfolio management.
Ocean City Group (Popularity: ): Dubai-based Ocean City Group was established in the late 1990’s with a vision to provide the highest quality services in the field of commercial vehicle and spare parts trading, trailer manufacturing and land transportation in the GCC and further afield. Today, OCT Group is one of the leading companies operating in the heavy vehicle and transport industry in the Emirate.
Immanuel Lutheran Corporation (Popularity: ): Non-profit, charitable corporation offering nursing services from minimal assistance to skilled care. 100 unit apartment residence located in Montana.