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  "domain": "real-estate-finance",
  "title": "GK-TK bond real-estate SPV",
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  "frontmatter": {
    "title": "GK-TK bond real-estate SPV",
    "aliases": [
      "gk-tk-bond-real-estate-spv",
      "GK-TK SPV",
      "合同会社匿名組合 SPV",
      "GK-TK structure",
      "Japan GK-TK real estate",
      "Japan TMK vs GK-TK comparison",
      "Japan offshore feeder GK-TK",
      "Japan bond-type GK-TK"
    ],
    "domain": "real-estate-finance",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-29",
    "last_tended": "2026-07-29",
    "review_by": "2027-01-29",
    "confidence": "likely",
    "tags": [
      "real-estate-finance",
      "securitization",
      "gk-tk",
      "tmk",
      "spv",
      "offshore-feeder",
      "japan"
    ],
    "status": "active",
    "canonical_anchor": null,
    "related": [],
    "note": null,
    "sources": [
      "https://elaws.e-gov.go.jp/document?lawid=417AC0000000086",
      "https://elaws.e-gov.go.jp/document?lawid=132AC0000000048",
      "https://elaws.e-gov.go.jp/document?lawid=410AC0000000105",
      "https://elaws.e-gov.go.jp/document?lawid=323AC0000000025",
      "https://www.nta.go.jp/law/tsutatsu/kihon/hojin/14/14_01_01.htm",
      "https://www.nta.go.jp/law/shitsugi/hyoka/08/06.htm",
      "https://www.mof.go.jp/english/policy/tax_policy/tax_conventions/tax_convetion_list_en.html",
      "https://www.ifrs.org/issued-standards/list-of-standards/ifrs-10-consolidated-financial-statements/"
    ]
  },
  "summary": "GK-TK (合同会社 + 匿名組合) is a private-SPV arrangement used in Japanese real-estate transactions. A 合同会社 (GK) is the legal-entity layer, while a 商法-based 匿名組合 (TK) is a contract under which an investor contributes to the operator's business and receives the contractually allocated result without becoming",
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    "GK-TK bond real-estate SPV",
    "TL;DR",
    "Wiki route",
    "Two layers, one vehicle",
    "Why GK and not KK or LLP",
    "The 信託受益権 layer",
    "Structure",
    "Why the bond layer",
    "How it differs from CMBS",
    "TK distribution as deductible expense"
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