Broadia Private REIT, a private REIT affiliated with Tokyu Land, acquired Splendid Yodoyabashi Due, a rental apartment with 227 residential units in Chuo-ku, Osaka City, in December 2016. The seller was Osaka-City based Shinwa Toshi Kaihatsu, a real estate company of Shinwa Construction group.
MIPIM, the largest real estate conference in the world, closed on March 17. According to the organizer, the number of participants was 24,200, of which, 5,000 were investors and from financial institutions. Multiple programs concerning the Japanese market were held among the sessions that numbered more than 100 just with official programs.
Mori Hills REIT will acquire Toranomon Hills Mori Tower and Holland Hills Mori Tower in August 2017. The REIT will obtain partial ownership to the properties and the seller is its sponsor Mori Building. The REIT will also sell the compartmentalized ownership in Motoazabu Hills, a rental apartment building in Minato-ku, to Mori Building. The handover will take place on July 31. Following this series of transactions, the acquisition price-based AUM of the REIT will expand to 352.5 billion yen [$3 billion] in 11 properties.
REIT Star Asia, which is sponsored by Star Asia Group of the U.S., concluded a contract on March 17 to acquire six properties including hotels. The total acquisition price is approximately 13.62 billion yen [$120 million]. The properties will be handed over on April 6. The most expensive property out of those contracted this time is Best Western Tokyo Nishikasai. The price is approximately 3.83 billion yen [$33 million].
- Nomura Master Fund to acquire four properties for Y17bn 03.23.2017
- Hotel operator Breezbay wins foreclosure bid for Hatchobori, Chuo-ku office 03.23.2017
- Railway operator Keisei developing apartment building in Negishi, Taito-ku 03.23.2017
- Music studio in Shinjuku changes hands 03.23.2017
- Tokyu Land private REIT acquires apartment in Osaka 03.23.2017
- MIPIM: Cannes closed with Japan showing presence 03.22.2017
- Mori Hills REIT incorporating Toranomon Hills, Holland Hills into portfolio 03.22.2017
- Star Asia to acquire six properties including hotels for Y13.6bn 03.22.2017
- Hankyu acquires land in Tokyo's Yaesu redevelopment project 03.22.2017
- Constructor Okumura obtains apartment in Ochanomizu vicinity 03.22.2017