News Release

March 27, 2024
For immediate release
Kanden Realty & Development Co., Ltd.
Nishi - Nippon Railroad Co., Ltd.
Notice Regarding Participation in Multifamily Development Project inCharlotte, NC, U.S.A.
Kanden Realty & Development Co., Ltd. (Headquarters: Osaka City, President: Kenichi Fujino;hereinafter “Kanden Realty”) and Nishi - Nippon Railroad Co., Ltd. (Headquarters: Fukuoka City,President: Koichi Hayashida; hereinafter “NNR”) announced that through their respective U.S.
subsidiaries, Kanden Realty & Development America LLC and NNR Realty Investments USA, Inc,and in cooperation with Space Craft (Headquarters: Charlotte, NC, President: Harrison Tucker;
hereinafter “Space Craft”) they will participate in a multifamily rental home development project inCharlotte, NC, U.S.A. as follows.
■ Property and Area Characteristics
This project is planned to develop multifamily rental homes in Charlotte, North Carolina, U.S.A.,
where the population is growing.
The property is located in a highly convenient area with good access to the city center,approximately 10 minutes by light rail from Uptown, the center of employment. At the same time,
the area has rich greenery and a high-quality living environment such as with walking trails andparks. With breweries, bars, and music studios nearby, the area is particularly popular among
young people who like art. The main targets of this project are singles, DINKs, and youngfamilies. In recent years, redevelopment has progressed around the property, and the area isexpected to become more and more vibrant and has become an area of focus.
In this project, 389 multifamily units will be developed on a site of approximately 7,300 m2. In thecommon area, there will be an exercise space (fitness center and yoga studio) that is popular withresidents, a dining space with a large kitchen, an outdoor space (courtyard and rooftop deck) thatwill be exclusive to residents, and a co-working space in the lobby so that residents can work
comfortably outside their apartments. It also plans to be an environmentally friendly property suchas for using CLT*, which is expected to have excellent thermal insulation and energy-saving
effects, and the installation of solar panels.
This project is the first three-company collaboration with local business partner Space Craft, andthe third collaboration between Kanden Realty and NNR. Kanden Realty and NNR will jointly
participate in the multifamily rental home development business for the first time in thesoutheastern area of the U.S. Through this project, the companies will further expand theirknowledge of the real estate business in the U.S. while leveraging the characteristics andknowledge of each company, and continue to consider excellent business opportunities in theglobal market and work toward achieving a sustainable future by developing environmentallyfriendly properties.
-1-* CLT (cross laminated timber): A wood-based material that is laminated and bonded so that the direction of fibers is orthogonal.

■ Development Overview *This overview is based on current plans and is subject to change in the future
Location:

Charlotte, NC, U.S.A.

Type:

Multifamily rental homes

Site area:

Approximately 7,300 m2

Total units:

389 units (Studio, 1BR, 2BR, 3BR, 4BR)

Construction start date:

March 2024

Construction completion date:July 2026 (planned)

Planned location:

2125 N Davidson St, Charlotte, NC

New YorkNorth Carolina
Population: Approx. 10.7 million(9th largest in the U.S.)

This project© OpenStreetMap contributors© OpenStreetMap contributors■ Overview of Space Craft
Company name:Space Craft

Location:

Charlotte, NC, U.S.A.

Establishment:

2018

Representative:

Harrison Tucker

Business description: Space Craft engages in real estate development in Charlotte-2-

Planned completion perspective■ For Inquiries

Kanden Realty & Development America LLC
Naoto “Nicholas” Kuroda
Masanao “Masa” Morita
E-mail: n.kuroda@kanden-rd.co.jp
m.morita@kanden-rd.co.jp

Nishi - Nippon Railroad Co., Ltd.
Public Relations Department3-5-7 Hakataekimae, Hakata-ku, Fukuoka 812-0011, Japan
TEL:+81-92-734-1383
Noghuchi, Nakamura-3-