Last Update: 05/26 2017 06:00 JST

Tokyo no longer world's hottest office building market

Office building prices are still rising here, but the pace of gains halved between October and April, industry data released Thursday, May 25 shows. Tokyo prices climbed 1.8% in the six months to April, a 1.6-point deceleration from last October. The Japan Real Estate Institute gathers data on prices and leases for new office buildings in 14 Asian and Western cities in April and October. The data is evaluated by the Tokyo-based company's appraisers and compiled into indexes that use October 2010 as the 100-point baseline. >>

Trading houses to spend 200bn yen on logistics centers

Japan's trading houses are opening distribution centers at a rapid pace, investing 200 billion yen [$1.7 billion] over the next three years to respond to growing demand for such facilities catering to e-commerce companies.>>

Hulic obtains office building in Nishi-Shinjuku

Hulic acquired approximately 90% of the Nishishinjuku Daikyo Building. The transaction took place in January 2017 and the seller was special purpose company GK Nishishinjuku Founding. Hulic obtained the building as an inventory asset. >>

Daiwa Office REIT SPC acquires Concurred Yokohama

On June 1, GK Yokohama Office Management, a special purpose company, will acquire 75% of the quasi co-ownership interest of Concurred Yokohama located in Kinkocho, Kanagawa-ku, Yokohama City. The company is an SPC financed by Daiwa Office REIT and Daiwa PI Partners of Chiyoda-ku. Including formation costs and such, the SPC has a total asset value of 39.2 billion yen [$343 million]. The seller is special purpose company Yokohama TMK and the remaining 25% of the quasi co-ownership interest is owned by Nippon Open Ended Real Estate Investment Corporation, a private REIT affiliated with Mitsubishi Estate. >>

Nomura developing apartment in Nihonbashi

Nomura Real Estate Development acquired Tokyo Sosho Kaikan, an office building in Higashi-Nihonbashi, Chuo-ku. The transaction took place in January 2017 and the seller was real estate company Columbia Works of Shibuya-ku. Nomura will reconstruct the building as a rental apartment building under the company's Proud Flat brand, and sell it to a REIT after completion.>>

WHAT'S IN THE MONTHLY REPORT: MAY 2017Past Monthly 

Reports

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Interview

The Hulic Dream

One man reinvents 50-year legacy business into blue-chip developer

The real estate company under Mizuho Bank that changed its company name to Hulic from Nihonbashi Kogyo in 2007 has added to its brilliance with each passing year. Materializing rapid increases in profits and high wages, people call the success of this real estate company the "Hulic dream," which has come to symbolize a company that is work- friendly.>>

MIPIM | Transactions Q1 2017 | Occupier Market | Market Knowledge | Deals Roundup | Relocation Update | News Digest

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