Last Update: 10/23 2017 06:00 JST

Local City Trends

Property investment topics in major second-tier cities

  • Kansai Electric subsidiary adds interest in Grand Front Osaka 10.23.2017

    Kanden Realty & Development acquired additional ownership in Grand Front Osaka in March 2017. The property is located to the north of JR Osaka Station. The seller was special purpose company Osaka Ekikita GK. Kanden Realty & Development had held a 5% co-ownership interest in the property and added 2% in this transaction.>>

  • LaSalle sells office building in Nagoya 10.20.2017

    A special purpose company of U.S. LaSalle Investment Management sold Round Terrace Fushimi Building in Nishiki, Naka-ku, Nagoya City in June 2017. The buyer was GREF Japan 1 TMK, a special purpose company. The property was acquired by GE Japan a few months after completion. After that, it was owned by an SPC of real estate fund manager Ichigo and acquired by the SPC of LaSalle in 2016. >>

  • Retail Fund to acquire 10,000 m2 GFA amusement facility in Kobe 10.13.2017

    Japan Retail Fund (JRF), a REIT associated with trading house Mitsubishi Corporation, will acquire Round1 Sannomiya Station, an amusement facility in Chuo-ku, Kobe City, for 3.2 billion yen [$28 million] on November 30. The seller is Hulic. >>

  • One REIT acquires three properties for Y16bn 10.13.2017

    One REIT (formerly SIA REIT) that is affiliated with Mizuho Trust & Banking will acquire three properties including Daihakata Building located near JR Hakata Station in Fukuoka City, Fukuoka Prefecture. The transaction will take place on October 25 and the total price is 15.85 billion yen [$140 million]. Each property will be purchased through exercising preferential negotiation rights. One REIT entered into the purchase agreement on October 11. >>

  • Hoshino Resorts REIT to acquire six hotels for Y29bn 10.13.2017

    Hoshino Resorts REIT will acquire six hotels including Hoshinoya Taketomi Island on November 1. The total acquisition price is approximately 29 billion yen [$250 million] and five out of the six properties will be acquired from its sponsor Hoshino Resorts and one of its subsidiaries. >>

  • B-lot acquires old apartment building in Osaka for resale 10.04.2017

    Real estate company B-lot acquired Maison Milano Nakatsu, a rental apartment building in Nakatsu, Kita-ku, Osaka City. The transaction took place in August 2017 and the seller was Marusan Jisho of Osaka City. The buyer obtained a mortgage with a hypothec registered in the maximum amount of 300 million yen [$2.6 million] from the Senshu Ikeda Bank.>>

  • Raysum acquires Takamatsu, Kagawa hotel 10.03.2017

    Raysum purchased Takamatsu Washington Hotel Plaza, a business hotel with 255 guestrooms located in Takamatsu City, Kagawa Prefecture. The transaction took place in May 2017. Raysum obtained a mortgage in the amount of two billion yen [$18 million] with an annual interest rate of 0.73% from Ehime Bank in order to purchase the property.>>

  • Toyobo to sell headquarters in Osaka for Y20bn 09.29.2017

    Textile manufacturer Toyobo will sell its headquarters building in Dojimahama, Kita-ku, Osaka City on October 20. A capital gain of about 9.5 billion yen [$84 million] will be generated from the transaction. According to the company's securities report for the term ended March 2017, the book value of the property was 10.13 billion yen [$90 million]. Based on this, the transaction price is believed to be nearly 20 billion yen [$180 million]. >>

  • Invincible REIT to obtain four Fortress hotels for Y40bn 09.26.2017

    Invincible REIT will acquire four hotels for a total price of 39.6 billion yen [$350 million] on October 13. The buyer of all the properties is a special purpose company affiliated with the Fortress Investment Group of the U.S., which sponsors the REIT. The most expensive among the properties is Hotel MyStays Shin Osaka Conference Center near Shin-Osaka Station. It will be acquired for 13.07 billion yen [$120 million]. >>

  • Housing REIT to sell serviced apartment in Shin-Osaka 09.22.2017

    The Japan Rental Housing Investments REIT (JRHI) will sell Abreast Shin Osaka, a serviced apartment intended for single families in the Shin-Osaka area for 1.8 billion yen [$16 million]. The transaction will take place on September 28.>>

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