Investor Presentaiton
Illustrative TMK-TK Structure Diagram for residential
KPMG
Asset
Manager
Asset
Management
SPC 1
ISH
100%
Less than
50% of
preferred
equity
GK (TK
Operator)
Investor
TMK
100%
TK investment
SPC 2 (TK
investor)
Equity holder/
(typically 97-99%) 1
More than
50% of
preferred
equity
GK (TK
Operator)
GK (TK
Operator)
TK investments
(100%)
Bond
Financing
GK (TK
Operator)
Real
estate/ TBI
Real
estate/ TBI
Real
estate/ TBI
Asset
Management
domestic TK
investor
Offshore
Japan
Asset
Manager
Bondholder
(QII)
Asset
Management
Asset
Manager
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Document Classification: KPMG Confidential
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