CSA Real Estate Advisors and Shimizu Jointly Acquire Apartment for Lease in Philadelphia
Shimizu Corporation (President: Kazuyuki Inoue) (Shimizu) acquired an apartment building for lease in the city center of Philadelphia through its American subsidiary Shimizu Realty Development (U.S.A.), Inc. (SRD), as a part of Shimizu’s overseas real estate business jointly with a local real estate company, CSA Real Estate Advisors, LLC (CSA). A subsidiary of CSA and SRD established a joint venture which owns and operates the property. Under the investment structure, SRD owns a 97.5% stake.