Croesus Retail Asset Management, the trustee-manager of Croesus Retail Trust (CRT) (SGX:S6NU) announced on 2 February that it has changed the name of its Tokyo retail property from “NIS Wave I” to “Croesus Tachikawa”.
The name change, effective 1 February 2015, has been described as a reflection of the retail property’s alignment with the Croesus Group and the Croesus brand, enhancing the status of CRT as an emerging retail landlord in Japan.
“The renaming is expected to boost the brand synergy of all retail properties under the Croesus brand, which highlights a single, distinctive identity that presents long-term benefits to tenants”, said the company in an official media statement on the change.
“The renaming exercise will provide new marketing opportunities for CRT to attract an interesting range of tenants to increase footfalls and tenant sales, leveraging not only on Croesus Tachikawa’s easily accessible location but also on its appeal as a friendly venue for leisure, food and beverage and services”, it added.
“We are creating one identity with multi- mall access which will benefit tenants and customers alike”, said Jim Chang Chief Executive Officer and Executive Director of Croesus Retail Asset Management.
Croesus Tachikawa is located in Tachikawa City with a population of 180,247 and is currently 100% occupied.