Last Update: 04/20 2018 06:00 JST

Closing Rent Survey Updated (Link)
Retail Rent Survey Updated (Link)

Singapore’s Thakral invests in sixth Osaka City property

Thakral of Singapore acquired an office building and a hotel in Osaka City through a special purpose company in January 2018. In addition, it secured a development site for a retail building in the city in March. Thakral has now invested in a total of six Japanese real estate properties. >>

Japan Post developing Daikanyama, Shibuya-ku apartment with shared offices

Japan Post will develop a rental apartment building with shared offices in Ebisu-Nishi, Shibuya-ku. The company will start the construction in May 2018 and will manage the property as an income building on its own after it is completed in November 2019.>>

Iino Lines acquires office building in Toranomon

Shipping company Iino Kaiun Kaisha (Iino Lines) and Minato-ku based general incorporated foundation Sakuradakai acquired approximately 70% of the interest in NS Toranomon Building, which is an office building in Nishi-Shinbashi, Minato-ku, in December 2017. The seller was Minato-ku based Mitsui & Co. Real Estate. The remaining approximately 30% was acquired by Minato-ku based Japan Sake and Shochu Makers Association in 2016. >>

Large Shinagawa Seaside office building transacted, AM by CBRE

It was confirmed that a large office building in Higashi-Shinagawa, Shinagawa-ku was transacted in March 2018. The buyer was GC Shinagawa TMK, a special purpose company whose assets are managed by CBRE. The seller was Hong Kong’s Phoenix Property Investors. Glass Cube Shinagawa, which was transacted, has 13 floors above ground and one below with a gross floor area of 18,954 m2.>>

Japan's fourth high-rise in Osaka converted into hotel

Property management company Nippon Kanzai decided in March 2018 to join the operation business of a hotel which is scheduled to open at Osaka Prefectural Government Sakishima Building (Sakishima Cosmo Tower) in Suminoe-ku, Osaka City. Minato-ku based Tokyo Capital Management, which is its subsidiary, will lease all the hotel floors and sublease them to Osaka City based Sakishima Cosmo Tower Hotel, which is the operator. Nippon Kanzai will invest one-third of the equity in the operator. >>

WHAT'S IN THE MONTHLY REPORT: APRIL 2018Past Monthly Reports

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Feature

Minpaku Business Spreading

Rising expectations for resolving home-sharing problems

The act on residential business (New Minpaku Law) which will establish a new framework for minpaku, or home-sharing, will come in to force in June. Movements to enter the minpaku business have become increasingly active due to such factors as the expectation that the market will become healthy with the legislation. One phenomenon that is particularly standing out is the partnerships between different types of businesses centered on brokerage firms who operate minpaku websites. However, some have expressed wariness about entering the business under the New Minpaku Law, as it limits the number of annual business days for minpaku operations.>>

Topics: Retail | Occupier Market | Market Knowledge | Deals Roundup | Relocation Update | News Digest

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