Real Estate｜Chandler Mori Hamada

Since its establishment⁠, Chandler Mori Hamada has recognized the importance of the Real Estate (⁠RE⁠) sector in Thailand and surrounding countries⁠. Clients include both local and overseas investors⁠, particularly⁠, leading Japanese property developers⁠. Today⁠, the firm’s Real Estate team advises on diverse aspects of property investment⁠, such as development of new projects⁠, acquisition⁠, disposition and financing of existing properties⁠, all aspects of structuring for development projects⁠, on due diligence⁠, and on drafting / negotiating transactional agreements and documents⁠.

Some Representative Transactions:

Real Estate Development

Tokyo Tatemono Asia Pts.Ltd. (Bang Phli logistics facility): advised Tokyo Tatemono Asia Pts.Ltd. a subsidiary of our client Tokyo Tatemono Co. Ltd., one of the biggest real estate developers in Japan. Tokyo Tatemono Thailand Ltd., entered into a joint venture with SC Expedition Company Limited, a subsidiary of SC Asset Corporation Public Company Limited, a listed company in Thailand. This joint venture involved the acquisition of shares in XW BP2 Company Limited to develop a logistics facility project in Bang Phli District, Samut Prakan Province, currently known as the “Bang Phli Project”. This project consists of four warehouse buildings, situated on a leased land area of 91-3-68.4 Rai.
Nomura Real Estate (Thailand) Co., Ltd.: advised Nomura Real Estate (Thailand) Co., Ltd. a subsidiary of Nomura Real Estate Development Co., Ltd., one of the biggest real estate developers in Japan. Nomura Real Estate (Thailand) Co., Ltd., entered a joint venture with Origin Property Public Company Limited and its subsidiary. This joint venture involves the acquisition of shares in Origin Bang Wa Company Limited to develop a residential condominium project known as Origin Place Bang Wa Interchange consisting of two condominium buildings (29 and 39 floors), with a total of 978 residential units and one commercial unit.
Sotetsu Real Estate Co., Ltd.: assisting Sotetsu Real Estate (Thailand) Co., Ltd., a subsidiary of Sotetsu Real Estate Co., Ltd. on its entry into a joint venture with Britania PCL, to jointly develop a housing project in Nonthaburi known as Belgravia Ratchaphruek-Nakhon In Project through the joint venture company, by acquiring shares in Belgravia. The Belgravia Ratchaphruek-Nakhon In Project consists of 35 single detached housing units along with various facilities, including clubhouse, swimming pool, and fitness center.

Leasehold

Rajapark Development Co., Ltd.: assisting Rajapark Development Co., Ltd. in leasing out a 27-story mixed-used building, namely 1522 Charoen Krung Project, situated along Bangkok Riverside at Charoen Krung Road, Bangrak District, Bangkok (which was formerly and commonly recognized as the “Robinson Bangrak Shopping Mall”).
Lessee: assisting a lessee in acquiring a leasehold for a unit in a luxury residential building, specifically from the branded residences located in a central urban area. This includes support with other related agreements concerning the construction and decoration of the unit.
Major retailing business: we provided support in respect to the land legal due diligence process and represented the client in the preparation and negotiation of lease and sale agreements for the acquisition of leasehold and freehold land for the development of various commercial uses, including supermarkets and hypermarkets.

Real Estate Financing

Antnest Holdings (Thailand) Limited: represented Antnest Holdings (Thailand) Limited in relation to the financing for the engineering, construction and development of the Hospital Building. Our role involves drafting, reviewing, negotiating, and finalizing the finance documents.
Lenders: representing lenders on the financing of the engineering, construction, and development of a hospital project. The project, undertaken by the borrower, is being developed on the designated project land and represents a significant milestone in the expansion of the region's healthcare infrastructure.
Omega Logistic Campus Co., Ltd.: represented Omega Logistic Campus Co., Ltd. in respect to the green loan financing of a modern automated warehouse project of Omega to be provided by United Overseas Bank (Thai) Public Company Limited.

REITS / FUNDS

Lotus’s Retail Growth Freehold and Leasehold Property Fund: advised Lotus’s Retail Growth Freehold and Leasehold Property Fund (LPF) on its conversion to the Axtra Future City Freehold and Leasehold Real Estate Investment Trust (AXTRART). This conversion involved 23 Lotus shopping centers valued at over 32 billion Baht across Thailand, establishing AXTRART as one of the four largest REITs of 2024.
Charn Issara REIT Management Company Limited: assisting Charn Issara Reit Management Company Limited in the conversion of the Bangkok Commercial Property Fund (“BKKCP”) into the Issara Real Estate Investment Trust (“ISSARA”), which involves the transfer of BKKCP’s assets to ISSARA including freehold right of office and commercial units in Charn Issara Tower and Charn Issara Tower 2 buildings.
KTBST Mixed Freehold and Leasehold Real Estate Investment Trust: assisting KTBSTMR with its second additional investment in the sub-leasehold rights over part (office and retail spaces) of Ladprao Hills Project, which is a mixed-use building consisting of hotel, office and retail spaces, from Urban Habitat Company Limited (“Urban Habitat”) including ownership over the tools and utilities system equipment in the building. KTBSTMR will procure benefits by subleasing out the project to Urban Capital Company Limited, a subsidiary of Urban Habitat.
Ally REIT Management Co., Ltd. (Ally): advising on an additional investment by ALLY involving the purchase of land and a building. The transaction involved a REIT which is governed by relevant regulations of the Securities and Exchange Commission of Thailand and other relevant regulations in relation to real estate. The due diligence and structuring of the transaction had to be in line with those regulations. Additional applicable regulations included the Air Navigation Act B.E.2497 and Thai Waters Act B.E.2456.
INET Leasehold Real Estate Investment Trust (INETREIT): represented INET in its first capital increase for the purpose of additional asset acquisition in the INET-IDC3 project. INETREIT will invest in ownership of land and buildings of INET-IDC3 phase 2 project and other plots of land on which the common facilities are located.
The Erawan Group Public Company Limited and SCB Asset Management Co.,Ltd.: advised The Erawan Group Public Company Limited and SCB Asset Management Co.,Ltd. Erawan Hotel Growth Property Fund (“ERWPF”) by SCB Asset Management Company Limited as the management company. ERWPF held a bid for the sale of its assets, namely, hotels under the name ibis Patong (located in Patong, Phuket) and ibis Pattaya (located in Pattaya, Chonburi) including the land and buildings, utility systems relevant to the hotel business, furniture, fixtures, and related equipment in order to enter the dissolution and liquidation process.