Mita Garden Hills 1009 — Purchase Price Reconciliation¶
Status: First-pass reconciliation built from primary source documents on the Synology share + M365 mail mining (RFH tenant) on 2026-05-08. Core line items are anchored on signed contracts and bank wire confirmations; closing-fee breakdown remains anchored on the original Financial Plan estimate (no separate post-delivery itemized statement located in the share). See § Open items.
Until this lands cleanly through Pearce + the Japanese accountant (Shu Endo), the JPY figures here are the canonical numbers for any advisor-facing output involving Mita basis. USD-equivalent depends on the rate convention chosen for tax basis (closing-day FX vs. weighted average across the wire dates).
Bottom line¶
| Item | JPY | USD-equivalent (note) |
|---|---|---|
| Original sales contract (April 25, 2023) | ¥760,000,000 | n/a — contracted in JPY |
| Special Changes Addendum (Aug 15, 2024) | +¥53,905,500 | n/a — contracted in JPY |
| Adjusted contract price | ¥813,905,500 | n/a |
| Closing fees at delivery (paid to Mitsui as part of wires) | +¥21,360,200 | n/a |
| Stamp tax — net cost to buyer side | +¥90,200 | n/a |
| Total economic cost paid to seller side | ¥835,355,900 | n/a |
| Real estate acquisition tax (one-time, post-delivery, paid to Tokyo authority — separate from seller wires) | +¥4,130,000 (estimated per Financial Plan) | n/a |
Wires actually sent to Mitsui Fudosan from RFH in 2025:
| Date settled at Mitsui | JPY received | Source |
|---|---|---|
| 2025-04-04 | ¥152,080,000 | RFH Brex Treasury → Mitsui (USD wire $1,029,284.76 × ~147.75 implied FX) |
| 2025-04-24 | ¥683,179,800 | RFH Pinnacle wire (JPY) → Mitsui via SMBC |
| Total wired | ¥835,259,800 | (matches the contract+changes+closing-fees total to ¥96K — explained by stamp/closing fee variance — see § Reconciliation) |
Plus: Austin's original ¥152,000,000 deposit (paid personally April 2023) was refunded to him at WF 6248 as ¥151,909,800 (net of ¥90,200 stamp). That is not part of the seller wires above and is NOT part of GK's basis — it goes to Austin's personal cash flow ledger only.
Suggested basis for GK's books (subject to advisor confirmation): ¥835,355,900 cost of acquisition (purchase price + closing fees + stamp), allocated per Japanese tax convention between depreciable building (incl. consumption tax + capital improvements from Special Changes) and non-depreciable land. Real estate acquisition tax of ~¥4.13M may also capitalize per Japanese GAAP; confirm with Shu Endo.
Document trail¶
All paths are on the Synology /volume1/documents share, mounted on proxmox
at /mnt/synology-documents/ for read-only inspection. The Business/Renfroe
Holdings GK (Mita Garden Hills)/Closing Documents/ folder is the canonical
location.
A. Original contract (¥760M)¶
Mita Sales Contract.pdf— signed sales contract, dated 2023-04-25.- Buyer (甲): Gavon Augustus Renfroe (personal), 210 Lavaca St Apt 3101, Austin TX 78701, USA
- Seller (乙): 三井不動産レジデンシャル株式会社 (Mitsui Fudosan Residential) + 三菱地所レジデンス株式会社 (Mitsubishi Estate Residence), joint sellers
- Property: 三田ガーデンヒルズ Unit 1009, type PM-158A, 158.15㎡ exclusive + parking/storage
- 売買代金 (sale price): ¥760,000,000 (broken out below)
- Stamp tax stamps visible on cover: ¥100,000 + ¥60,000 = ¥160,000 (split per JP convention; buyer paid ¥80,000)
- Delivery date (引渡し予定日): 2025-04-24
Mita Sales Contract - Financial Plan.pdf— Mitsui Fudosan-prepared funding plan dated 2023-04-25, printed 2023-04-25 10:02. Itemized:
| Line | Amount |
|---|---|
| 土地価格 (land price) | ¥544,920,000 |
| 建物価格 (building price ex-tax) | ¥195,527,273 |
| 消費税 (consumption tax on building, 10%) | ¥19,552,727 |
| 本体売買代金 (main contract price) | ¥760,000,000 |
| 手付金 (deposit at signing) | ¥152,000,000 |
| 残代金 (remainder at delivery) | ¥608,000,000 |
Plus 諸費用（概算）— estimated misc fees (¥21,521,200 total):
| Line | Amount |
|---|---|
| 登記費用 (registration fees) | ¥1,040,000 |
| 固定資産税等相当額 (property tax equivalent, 9 months) | ¥909,000 |
| 全体修繕積立基金 (overall repair reserve fund) | ¥11,556,000 |
| 棟別修繕積立基金 (per-building repair reserve fund) | ¥7,855,200 |
| Subtotal — closing fees at delivery | ¥21,360,200 |
| 売買契約書印紙代 (sales contract stamp) | ¥80,000 |
| 火災保険料 (5-year fire insurance) | ¥81,000 |
| Subtotal — other fees (paid at signing) | ¥161,000 |
| 諸費用合計 | ¥21,521,200 |
Plus 翌年の固定資産税等 ¥1,212,000 (next-year property tax — ongoing operating cost) and 不動産取得税 ¥4,130,000 (one-time real estate acquisition tax, paid post-delivery to local government — NOT in seller wires).
Monthly carrying costs (毎月ご負担額合計): ¥354,880 (mgmt + reserves + internet + parking).
B. Owner Styling / Special Changes Addendum (+¥53,905,500)¶
Mita Sales Contract - Special Changes Addendum.pdf— 14-page addendum titled オーナーズスタイリングの覚書 (Owner's Styling Memorandum). Cover signed by Austin 2024-08-15 at 210 Lavaca St Apt 3101, Austin TX 78701.- 本変更に要する代金 (total cost incl. tax): ¥53,905,500
- Pre-tax: ¥49,005,000
- Consumption tax (10%): ¥4,900,500
- Counterparty: 三井不動産レジデンシャル (担当 原島京子, Harashima Kyoko)
- Coordination: 打合せ日 2023-05-28 (initial design meeting); document prep date 2024-02-16
- Detailed line-item totals (page 8 / final summary):
| Section | Pre-tax (税抜) |
|---|---|
| スタイルセレクト (Style Select — base finishes / fixtures) | ¥0 (included in standard package) |
| オプションセレクト (Option Select — upgrades) | ¥10,853,091 (¥11,939,400 incl. tax) |
| ジャストフィットセレクト (Just Fit Select — bespoke modifications) | ¥38,001,000 (¥41,801,100 incl. tax) |
| コンサルフィー (consultation fee) | ¥150,000 (¥165,000 incl. tax) |
| Subtotal pre-tax | ¥49,005,000 |
| 消費税 (10%) | ¥4,900,500 |
| Total inc. tax | ¥53,905,500 |
- Largest individual change-order line items (illustrative, in priority order by ¥-impact):
- ¥8,253,300 — Kitchen Cupboard rebuild (SieMatic built-in panel set, IRBh517 OPeak fridge, SIFNh5188Peak Liebherr freezer, Pantry rebuild)
- ¥5,068,800 — Master Bedroom 突板アクセントウォール (veneered accent wall, 18m run)
- ¥4,787,500 — Living Dining 突板アクセントウォール (veneered accent wall, ~17m run)
- ¥4,931,300 — Living Dining 折上天井 (raised tray ceiling)
- ¥4,505,600 — Master Bedroom second 突板アクセントウォール (16m run)
- ¥3,686,100 — Master Bedroom 折上天井 (raised tray ceiling)
- ¥3,001,900 — Dressing Rm.(1) wall finish change (cross to tile — Coverlam Niasilkbeige Mat, 600 angle)
- ¥2,184,600 — Built-in wine cellar (handle-less)
- ¥1,996,500 — Dressing Rm.(2) wall finish (same tile spec)
- ¥1,699,500 — Powder Room wall finish (same tile spec)
- ¥1,689,600 — Walk-in Closet 突板アクセントウォール (~6m run)
- ¥1,617,000 — Guest Powder Rm. wall finish (same tile spec)
- ¥1,126,400 — Shoes-through Clo. wall accent (281,600 × 4m)
- ¥921,800 — Cupboard cooking equipment (microwave-oven combo, Miele)
- ¥719,400 — Guest Powder Rm. fittings (Elegant Vintage color change)
- ¥620,400 — Living Dining ceiling sandbag anchor (likely for hanging fixtures or art)
- ¥572,000 — Bedroom 建具 color (Elegant Vintage two-tone)
- ¥548,900 — Hall(2)+Guest Powder+Powder+Bath+Shower+MBR+Bedroom+Walk-in Clo+Balcony color change to Elegant Vintage
- ¥466,400 — Bedroom Closet→AV Closet conversion (W650D60D push-style with conduit access)
- ¥403,700 — Hall(1)/Hall(2) split with new door (two-tone color separation)
(Full per-item listing on pages 2–7 of the addendum.)
- Companion document
特別変更に関する合意書(Special Changes Agreement, signed Aug 15, 2024 — same date as Addendum cover) covenant Austin's payment obligation for the change-order at the time of remainder payment. Per Article 2: the change-order cost is added to the original contract's residual payment. - Companion document
オーナーズスタイリング.pdf(Owner's Styling) — full-color floor plan + finish schedule showing the 1009 unit with all changes annotated. Reference for advisors who want to verify the change-order impact visually.
C. Ownership Change to GK (April 4, 2025)¶
名義変更に関する合意書 Ownership Change Agreement (signed)(stamped).pdf— 名義変更に関する合意証書 dated 2025-04-04. Three-party agreement:- 甲 (Original buyer): Gavon Augustus Renfroe (personal), 210 Lavaca St Apt 3101, Austin TX 78701
- 丙 (New buyer): レンフローホールディングス合同会社 (Renfroe Holdings GK), 東京都中央区日本橋本町四丁目10番10-602号, represented by 代表社員 ガボン・オーガスタス・レンフロー (Gavon Augustus Renfroe as representative member). NOTE: 2025-04-04 the GK was 100% Renfroe Family Holdings, LLC + Yuriko Kato; Austin signed in his individual representative-officer capacity since LLCs cannot act directly in Japan.
- 乙 (Seller): 三井不動産レジデンシャル + 三菱地所レジデンス
- Article 1: Original 2023-04-25 contract (between 甲 and 乙) is dissolved; 丙 enters into a new contract on the same property with 乙.
- Article 3 (the financial settlement):
- 甲's deposit + interim payments received to date: ¥152,000,000
- Stamp duty cost charged against 甲: ¥90,200 (¥80,000 from original contract + ¥10,200 GK's portion of new contract stamp)
- Refund to 甲: ¥151,909,800
- Refund destination: WELLS FARGO BANK, account 1010285566248, name GAVON AUGUSTUS RENFROE
- Article 4: This agreement closes out the original contract dispute-free.
-
Per Austin's recollection (see
context/entities.mdMita acquisition story): the actual refund wire to WF 6248 occurred AFTER closing was complete (post-July 2025), not at the time the agreement was signed. Confirming the actual deposit-out date requires the WF 6248 statement — flagged below. -
Companion request:
Overseas Remittance Refund Request Form.pdf(海外送金返金依頼書) — dated 2025-03-31, completed by Austin. This is the form by which Mitsui's accounting team is instructed where to send the refund. Beneficiary: GAVON AUGUSTUS RENFROE, 210 LAVACA ST APT 3101 AUSTIN TX 78701; Bank: WELLS FARGO BANK, 420 MONTGOMERY ST SAN FRANCISCO CA 94104; Account 1010285566248; SWIFT WFBIUS6S.
D. Wire 1 — RFH Brex → Mitsui (April 2, 2025)¶
2025.04.02 Mita Garden Hills 1009 Second Wire Confirmation.pdf— Brex Treasury wire confirmation:- Sender: Renfroe Family Holdings LLC Checking Account
- Beneficiary: MITSUI FUDOSAN RESIDENTIAL CO.,LTD
- Beneficiary account: 7557423 at SMBCJPJT (Sumitomo Mitsui Banking Corp, Japan)
- Amount sent: $1,029,284.76 USD
- Initiated by Gavon Renfroe on 2025-04-02
- Estimated delivery: 2025-04-02 to 2025-04-08
- Memo: "Mita Garden Hills Deposit"
Assignment of April 4 Deposit from RFH LLC to RH GK.pdf(4月4日の預金をRFH LLCからRH GKに譲渡) — joint instruction from RFH and GK to Mitsui, 振替に関する依頼書 (transfer instruction):- Funds deposited at Mitsui by RFH on 2025-04-04: ¥152,080,000 (= USD wire converted at implied FX 147.75 JPY/USD)
- Apply to: deposit (手付金) + stamp duty for GK's new sales contract
- GK's new contract conclusion (planned) date: 2025-04-08
- Effect: RFH's wire IS GK's deposit on the new contract.
E. Wire 2 — RFH Pinnacle → Mitsui (April 22, 2025)¶
2025.04.22 Mita Garden Hills 1009 Third Wire Confirmation.pdf— Pinnacle Bank-prepared SWIFT confirmation, sent by Brent Boltwood (Pinnacle Financial Partners, Mountain Brook AL, NMLS # 512458) to Austin Renfroe at 3:28pm CDT 2025-04-22.- SWIFT MT103 reference: 1250422010096
- Sender: USBKUS44AFEX → Receiver: BOTKJPJTXXXX
- :32A:250423JPY683179800 = settlement date 2025-04-23, currency JPY, amount ¥683,179,800
- :50K:/097525 Renfroe Family Holdings LLC, 210 Lavaca Street Apt 3101 Austin TX 72701 USA (typo for 78701; Pinnacle's processing system has wrong ZIP)
- :52A:PNFPUS44XXX (Pinnacle ordering institution)
- :53B:/653-0422983 (Pinnacle correspondent)
- :57A:SMBCJPJTXXX (SMBC as beneficiary's bank)
- :59:/7557423 Mitsui Fudosan Residential Co LTD, 3 Chome Nihonbashimuromachi, Chuo City, Tokyo 103-0022
- :70: "Mita Garden Hills 1009 / purchase of new condo"
- :71A:OUR (sender pays all fees)
Assignment of April 22 Deposit from RFH LLC to RH GK.pdf(4月22日の預金をRFH LLCからRH GKに譲渡) — joint instruction:- Funds deposited at Mitsui by RFH on 2025-04-24: ¥683,179,800
- Apply to: 残代金 (remainder of purchase price) on GK's new contract
- Contract conclusion date noted: 2025-04-08 (same as the previous form)
F. Pinnacle bridge financing of the April 22 wire ($3.5M term loan)¶
Pinnacle-Renfroe_Loan Documents [Execution Version].pdf— Term Loan Promissory Note dated 2025-04-21, executed via DocuSign:- Borrower: GAVON A. RENFROE (individual, Texas resident, 210 Lavaca Street Apt 3101 Austin TX 78701)
- Lender: PINNACLE BANK, a Tennessee state bank (2020 Cahaba Road, Mountain Brook AL 35223, attn Brent Boltwood)
- Principal: $3,500,000.00 USD
- Maturity: 2025-06-21 (60-day bridge — explicitly designed to be taken out by TSB mortgage)
- Rate: Term SOFR + 2.50% per annum, Actual/360
- Default rate: rate + 4.00%
- Late charge: 5% of past-due amount after 15 days
- Disbursements Letter (cover dated April 21, 2024 — typo; correct year is 2025 per the promissory note's actual date):
- Burr & Forman LLP — $3,500.00 (Pinnacle's legal fees, Patrick Clarke handling, file CM# 43968-23)
- Borrower's account ending in #____ — $3,500,000.00, purpose: "Acquisition of condominium in Mita Garden Hills in Tokyo Japan"
- The bridge funded Austin's Pinnacle account at $3,500,000; from there, funds flowed to RFH (capital contribution) and out via the April 22 wire to Mitsui. The ~$1.12M USD gap between the $3.5M Pinnacle bridge and the $4.62M USD-equivalent of the April 22 ¥683.18M wire was funded from elsewhere (Brex Treasury, RFH cash on hand, prior owner contributions). Source-of-funds for the gap is not yet fully traced — flagged below.
- NOT to confuse: the Pinnacle Consumer Loan Agreement also in this folder (Loan #20221215035) is a $600,000 personal LOC originated July 13, 2022 and amended/restated 2025-05-12 — this is Austin's pre-existing personal LOC, not the Mita bridge. Both documents share the same banker (Brent Boltwood) but are distinct facilities.
G. TSB mortgage takeout (July 28, 2025) — ¥780M¶
計算書 仕向(780百万円).pdf(filename JIS-encoded; renamed fromîvÄZÅæÄdîⁿüi780òSû£ë~üj.pdf) — Tokyo Star Bank outgoing wire calculation/statement, ref 055-PO-038023:- Date: 2025-07-28
- Customer: レンフローホールディングス合同会社 代表社員レンフロー (Renfroe Holdings GK, representative member Renfroe)
- Branch: 本店営業部 (TSB head office business dept)
- Currency converted: USD
- Amount: $5,238,766.88 USD
- FX rate: 148.89000 JPY/USD
- JPY-equivalent base: ¥780,000,000
- Wire fee: ¥7,000
- Settlement amount: ¥780,007,000
- Originating account: 100-12-01-7997469 (GK's TSB primary)
- This wire took GK's mortgage proceeds (¥780M) and converted to $5.24M USD outbound. Use of funds (per
context/entities.md"$1.155M swept from GK to Primary at one point" + Pinnacle bridge maturity 2025-06-21 + ~$3.5M principal + interest): - ~$3.5M + accrued interest → Pinnacle bridge payoff
- ~$1.155M → Brex Primary (RFH) — partial reimbursement of RFH's earlier wires
- ~$0.6M → other fees / Austin reimbursement / interest
- Exact split confirmation pending — flag below.
振込金受付書(TSB domestic JPY wire receipt, 2025-07-28): also same day, ¥3,221,900 + ¥880 fee → 司法書士法人ソラリアージュ (Solariage Judicial Scrivener Law Firm) at Mizuho Shinjuku-Nishiguchi branch, account 1197597. This is the property registration fee — Tokyo property transfers go through a 司法書士 (judicial scrivener) who handles the title transfer at the Legal Affairs Bureau. ¥3.22M is large enough to suggest both the original transfer (Mitsui→GK, May 2025) AND the mortgage-collateral filing for TSB happened together, billed in arrears.
H. Other primary documents reviewed¶
2023-04-09 Gavon Renfroe Mita Garden Hills.pdf— Austin's affidavit + POA package, signed 2023-04-09 in Texas (Notary Katherine Plummer, ID 133824496, expires 2026-06-22). Authorizes Yuriko Saho (= Yuriko Kato née Saho) to: receive 重要事項説明 (material facts explanation), conclude purchase agreement, accept delivery. This is HOW the original 2023-04-25 sales contract was executed by Saho on Austin's behalf in Tokyo while Austin remained in Texas.2025.03.13 Renfroe Mita Garden Hills 1009 Affidavit.pdf— Austin's 2025-01-13 affidavit (notary Marco A. Biancalana, ID 129469494, expires 2025-06-25) attaching his US passport (#506141980, issued 2015-03-09, expires 2025-03-08 — note expired Mar 8 2025, signed 5 weeks before expiration). This is a "true copy of US passport" affidavit required by SMBC / TSB / Mitsui for the GK's KYC and the property registration. The Japanese-side companion page authorizes 加藤百合子 (Saho/Yuriko Kato) at 東京都中央区日本橋本町4-10-10-602 (the GK's registered address) to sign.議事録 Board of Directors Meeting Minutes and Board Resolution (English)(signed).pdf+(signed).pdf(Japanese) — GK board minutes + resolution authorizing the Mita acquisition under GK's name. Reviewed for date but not deeply mined.
Reconciliation walkthrough¶
1. What the seller (Mitsui Fudosan + Mitsubishi Estate) ultimately received from RFH on GK's behalf:
| Item | JPY |
|---|---|
| April 4 deposit-applied (RFH Brex → Mitsui, USD$1,029,284.76 → JPY ¥152,080,000) | 152,080,000 |
| April 24 remainder (RFH Pinnacle → Mitsui, JPY ¥683,179,800) | 683,179,800 |
| Total received by seller from RFH | 835,259,800 |
2. What the property cost per the contracts (signed by Austin / Saho-on-Austin's-behalf):
| Item | JPY |
|---|---|
| Original contract (2023-04-25) | 760,000,000 |
| Special Changes Addendum (2024-08-15) | 53,905,500 |
| Adjusted contract price | 813,905,500 |
| Closing fees at delivery (per Financial Plan estimate) | 21,360,200 |
| Implied total contract+closing | 835,265,700 |
3. Δ between implied (¥835,265,700) and wired (¥835,259,800) = ¥5,900. This is rounding-level noise — likely from variance between the Financial Plan's estimate of registration / property-tax-equivalent / repair-fund line items and the actual amounts charged at delivery. No material missing money.
4. Stamp duty on contracts (paid separately at signing, not in seller wires):
| Item | JPY |
|---|---|
| Original contract stamp tax (Apr 2023, paid by Austin) | 80,000 |
| New GK contract stamp tax (Apr 2025, GK's portion) | 10,200 |
| Total stamp duty as buyer-side cost | 90,200 |
This was netted out of the deposit refund per the Ownership Change Agreement (Article 3): Austin's ¥152,000,000 deposit minus ¥90,200 = ¥151,909,800 refunded.
5. Net economic outflow for the property (consolidated Austin + RFH view):
- Austin personal April 2023 outflow: ¥152,000,000 (deposit)
- Austin personal post-2025 inflow (refund): ¥151,909,800 (to WF 6248)
- → Net Austin personal cost: ¥90,200 (= the stamp tax cost)
- RFH 2025 outflow to Mitsui: ¥835,259,800
- → Net consolidated cost (Austin personal + RFH): ¥835,350,000 (= contract+changes+closing+stamp)
(Hits ¥835,355,900 if you book the closing fees at the Financial Plan's exact ¥21,360,200 + stamp ¥90,200 instead of using actual wired amounts; the ~¥5.9K difference is line-item rounding.)
6. Real estate acquisition tax (¥4,130,000 estimated): one-time tax paid post-delivery by GK to local Tokyo authority. Not in any of the wires above. Should be tracked separately in GK's books once the actual assessment arrives. If not yet paid, this is an outstanding GK obligation — flag below.
Funding source chain (downstream of the wires-to-seller)¶
The reconciliation above answers "what was the property's cost." This section answers "where did the money come from" — relevant for booking but distinct from basis.
April 4 Mitsui receipt (¥152,080,000) — SOURCE TRACED 2026-05-09 via Brex API: - Source: Brex Treasury (RFH Primary, account 8798) — wired April 2, 2025 in USD - Brex Primary outflow: 2025-04-02 -$1,029,284.76 USD to "MITSUI FUDOSAN RESIDENTIAL CO.,LTD - Mita Garden Hills deposit" (PAYMENT type, exact match to Wire 2 confirmation) - Funded by an Austin personal contribution to RFH the same day: 2025-04-02 +$1,050,000.00 USD from GAVON RENFROE personal — "incoming transfer from GAVON RENFROE." Austin's $1,050,000 personal capital contribution to RFH covers the $1,029,284.76 Mitsui wire plus a small buffer for FX/wire fees. - Currency conversion happened at SMBC on the receiving end: $1,029,284.76 → ¥152,080,000 (implied FX 147.75)
April 24 Mitsui receipt (¥683,179,800) — DID NOT ROUTE THROUGH BREX: - Source: Pinnacle Bank's correspondent JPY account, sent via SWIFT (USBKUS44AFEX → BOTKJPJTXXXX → SMBCJPJTXXX → Mitsui's account 7557423 at SMBC). RFH is the :50K SWIFT originator on the message but the funds never transit Brex. - Confirmed against Brex Primary April 2025 ledger (queried 2026-05-09 via Brex API): no outflow at any date in April 2025 corresponds to the ¥683.18M wire — there is no $4.6M-equivalent USD outflow, no ¥-denominated outflow. The April 2025 Primary outflows total under $50K (Alex Snider, Travis County, Brex card reimbursements, sub-account intra-customer book transfers) plus the $1.029M Mitsui wire. Wire 3 unambiguously bypassed Brex. - Underlying funds at Pinnacle: - $3,500,000 USD from the Pinnacle bridge term loan (signed 2025-04-21, matures 2025-06-21, disbursed to Austin's Pinnacle account per the Disbursements Letter) - ~$1.12M USD additional sourced from Austin's existing Pinnacle account / wealth-management positions / a transfer from another Austin personal account (Wells Fargo 6248, JPMorgan, etc.). This is an Austin personal flow, not an RFH/Brex flow. The Pinnacle account-level statement for April 2025 would identify the source(s) — currently not in the Synology share. Candidate explanation: Black Saddle PFS (referenced in the Tokyo Star Bank Mortgage folder under "Gavon Renfroe PFS Black Saddle.pdf") may be the Pinnacle wealth-management account holding additional liquid USD. Confirm with Brent Boltwood / pull Pinnacle April 2025 statement. - USD → JPY conversion happened at Pinnacle internally: ~$4.62M (at FX ~147.87) → ¥683,179,800
Implication for booking: The ¥683.18M wire is not a flow on RFH's books. RFH is named as :50K originator on the SWIFT for legal-substance reasons (RFH is the buyer's representative and the GK's parent), but the cash leg sits entirely between Austin personal accounts and Pinnacle's correspondent. On RFH's books, the ¥683.18M never appears as an outflow; it appears (through the Assignment-of-Deposit documents) as a capital-contribution-to-GK transaction with offsetting debit to GK's Mita basis. The Pinnacle bridge ($3.5M) is an Austin personal liability, not an RFH liability, until it is taken out by the TSB mortgage on July 28, 2025.
TSB mortgage takeout (July 28, 2025):
- TSB advanced ¥780,000,000 mortgage to GK
- GK converted ¥780M → $5,238,766.88 USD outbound at FX 148.89
- USD destinations (to be confirmed against Brex / Pinnacle records):
- Pinnacle bridge payoff (~$3.5M + ~60 days of accrued interest at SOFR + 2.5% — likely $3.55–$3.6M total)
- RFH Brex Primary (the $1.155M GK→Primary sweep noted in context/entities.md)
- Residual ~$0.5–0.6M to other (Austin personal, Pinnacle origination/legal, FX float, etc.)
The ¥152,080,000 RFH-to-Mitsui April 4 wire and the ¥683,179,800 RFH-to-Mitsui April 24 wire — both originally booked from RFH's accounts — economically flow to GK via the two Assignment-of-Deposit instruments dated April 4 and April 22, 2025 respectively. These are the legal mechanism by which RFH's payments became GK's contract performance and GK's basis in the property.
Open items (parking lot for advisor work)¶
- WF 6248 confirmed-deposit date for the ¥151,909,800 refund. The form was filed 2025-03-31 and the agreement signed 2025-04-04, but per Austin the actual refund wire from Mitsui happened AFTER closing was complete (i.e. some time after May 2025). Pulling the WF 6248 monthly statement covering May–Sept 2025 would close this. The refund USD-equivalent at receipt also needs to be pinned for tax purposes (Austin's personal ledger, not GK's). →
todo/for-austin.md - Funding-source split on the April 22 ¥683.18M wire (the $1.12M USD gap above the Pinnacle bridge). PARTIALLY RESOLVED 2026-05-09 by querying Brex API directly: the ¥683.18M wire never touched Brex Primary at all — it sits entirely between Austin personal accounts and Pinnacle's correspondent. The $3.5M bridge from Pinnacle + ~$1.12M USD from another Austin personal source (likely Black Saddle PFS at Pinnacle wealth-management, or a transfer from another personal account). The Pinnacle April 2025 account statement would identify the source(s) — currently not in the Synology share. Open ask: pull Pinnacle April 2025 statement from Brent Boltwood. Booking implication: the wire is NOT on RFH's books; on RFH's books the Mita basis transfer to GK is a single capital-contribution journal, not a wire-out. →
todo/for-austin.md - Real estate acquisition tax (¥4,130,000 est.) — has it been paid? This is a Tokyo-local one-time tax paid post-delivery by the new owner (GK). Mining TSB statements + JPY domestic transfers for early-to-mid 2025 should show whether this has been remitted. Confirm with Shu Endo. →
todo/for-advisors.md - TSB mortgage principal vs ¥780M. The July 28, 2025 outgoing-wire calculation shows ¥780M as the JPY base for the USD wire — but I don't have the TSB mortgage promissory note in the closing-docs share. Most likely the mortgage was sized to match the outflow, but pulling the TSB mortgage agreement + amortization schedule would close this. Ask Shu Endo for a copy. →
todo/for-advisors.md - Building-vs-land allocation on GK's books. The original Financial Plan splits ¥544.92M land + ¥195.53M building (ex-tax) + ¥19.55M consumption tax. The Special Changes (¥53.91M) are essentially capital improvements to the building — they should NOT be allocated to land. Recommended allocation:
- Land basis: ¥544,920,000 (no change from original)
- Building basis ex-tax: ¥195,527,273 + ¥49,005,000 (Special Changes pre-tax) = ¥244,532,273
- Consumption tax (allocated to building): ¥19,552,727 + ¥4,900,500 = ¥24,453,227
- Closing fees (~¥21.36M) — Japanese GAAP typically allocates registration fees, repair-fund contributions, and property-tax-equivalent payments to capitalized cost; some land/building split is required. Confirm with Shu Endo.
- This proposed split should be the starting point for Pearce + Shu Endo dialogue.
- ¥165,000 consultation fee (in the Special Changes Addendum) — this is a soft-cost, not a hard improvement. Possibly expensed (paid to a styling consultant) rather than capitalized. Confirm with Shu Endo.
- The 2025-04-08 contract conclusion date (referenced on both Assignment-of-Deposit forms) — implies a NEW sales contract was executed by GK with Mitsui on April 8, 2025 to replace the original April 25, 2023 contract that Austin signed personally. The April 8, 2025 GK-as-buyer sales contract is NOT in the Synology share as a separate document — the Ownership Change Agreement of April 4, 2025 may legally substitute, but a counterpart "GK-as-buyer" contract may exist. Ask Mitsui Realty (Yamamoto-san at [email protected]) for a copy. →
todo/for-austin.md
Counterparties surfaced (for context/people.md updates)¶
| Name | Role | Email / contact |
|---|---|---|
| Yamamoto-san (山本) — first name not yet captured | Mitsui Fudosan Realty (mf-realty.jp), post-purchase property contact | [email protected] |
| Matsuo-san (松尾, K. Matsuo) | Mitsui Fudosan Realty | [email protected] |
| 原島 京子 (Harashima Kyoko) | Mitsui Fudosan Residential — Special Changes Addendum 担当 (lead on the change-order) | (mailing only — not in mail thread) |
| 岡田 憲嗣 (Okada Norishi/Kenji) | Mitsui Fudosan Residential — 契約サービス部長 (Contract Services Department head; signed Ownership Change Agreement) | (mailing only) |
| 嘉村 徹 (Kamura Toru) | Mitsui Fudosan Residential — 代表取締役社長 (Rep Director / President; signed original 2023 contract) | (mailing only) |
| 宮島 正治 (Miyajima Masaharu) | Mitsubishi Estate Residence — 取締役社長 (Director / President; co-signed original 2023 contract as joint seller) | (mailing only) |
| Brent A. Boltwood, NMLS # 512458 | Pinnacle Financial Partners (Mountain Brook AL) — bridge loan banker | [email protected] |
| Jake Randolph | Pinnacle Mortgage — separate banker (referenced in 2025-09-29 mail; possibly handling Pinnacle's mortgage-product side) | [email protected] |
| Bethany Allen | Pinnacle Bank — DocuSign envelope originator | [email protected] |
| Patrick Clarke / Burr & Forman LLP | Pinnacle's outside counsel on the bridge | (file CM# 43968-23, [email protected]) |
| Claire Yamamoto | Tokyo Star Bank — relationship banker (KYC, account services, post-mortgage operations) | [email protected] |
| Shusaku ("Shu") Endo + Kyomi Endo | Japanese accountants for GK (ABS Partners) — Renfroe Holdings GK Tax information thread | [email protected], [email protected] |
| Yuriko Kato (née Saho) | Former GK co-member; signatory on 2023 contract via POA from Austin | [email protected], [email protected] |
| 司法書士法人ソラリアージュ (Solariage Judicial Scrivener Law Firm) | Tokyo judicial scrivener — handled property registration to GK + TSB mortgage filing | Mizuho Shinjuku-Nishiguchi 1197597 (¥3,221,900 paid 2025-07-28); phone 03-5337-3378 (per the wire receipt) |
Cross-references¶
context/entities.md§ Mita Garden Hills 1009 — acquisition story → updated to point at this file.tax/2025-filing-prep.md§ Mita / 5471 / GK basis → treat the JPY figures here as canonical until Shu Endo / Pearce sign off.banking/jpmorgan-chase.mdandbanking/brex.md→ no changes needed; the Brex April 2 wire and Pinnacle April 22 wire are already insource-data/brex/and reflected in the Xero feed.decisions/log.md→ next entry to log: "Mita basis JPY-anchored at ¥835,355,900 land+building+closing+stamp pending Shu Endo allocation."source-data/synology-documents-index/README.md→ no changes (this file extracts data from documents already indexed there).