Alternative investment specialist Mastern Investment Management noted on the 11th that it signed a memorandum of understanding (MOU) for cooperation in rental housing business centered on private rentals and senior dwellings with space planning firm jpa. at its headquarters in Seocho-gu, Seoul on the 8th.
This agreement was pursued to transform private housing whose mandatory lease period has expired, as well as old small hotels and officetels, into new residential products through space branding (concept planning) and remodeling, and to jointly explore small and medium-sized development business opportunities utilizing idle sites (distribution points, supermarkets, parking lots, etc.) in urban areas.
Jpa. (Junglim Planning Advisory) is the first Company In Company (CIC) launched based on the expertise of Junglim Architecture. It provides an integrated space branding solution that organically integrates brands and spaces, covering all processes from planning to experience and environmental design, design implementation, and operations.
The company explained that this agreement aims to incorporate jpa.'s space planning and product design capabilities across various rental housing businesses, such as private rentals and senior dwellings, promoted by Mastern Investment Management. Through this collaboration, Mastern Investment Management expects to enhance its product and operational competitiveness by securing designs and space planning experiences from the perspective of rental housing users.
The two companies plan to jointly launch product planning to respond to new demands, such as shared living and senior towns, and collaborate on discovering urban idle sites and rebranding projects. They will also work together to develop tenants and programs related to rental housing operations and aim to maximize product viability and operational efficiency by integrating jpa.'s spatial planning capabilities into structures like land joint ventures.
A representative from Mastern Investment Management said, "This agreement is an attempt to redefine the value of idle and old assets and to use space in urban areas efficiently," adding, "We will create new revenue models through repositioning existing assets and differentiated space planning in the rental housing market, which is shifting from a supply-centric to an operational efficiency-centric approach, and secure competitiveness in the rental housing market."