Last Update: 04/26 2018 05:56 JST

Tokio Marine Private REIT acquires Akihabara retail building

Private real estate investment trust Tokio Marine Private REIT acquired Chomp Chomp Akihabara, which is a retail building in front of Akihabara Station, in March 2018. The seller was a famous individual investor. >>

Nippon Steel Kowa secures 1,400 m2 development site in Kachidoki, Chuo-ku

Nippon Steel Kowa Real Estate of Minato-ku acquired Hokurei Kachidoki Kojo, a cold storage warehouse in Kachidoki, Chuo-ku. The seller was Kitada Suisan of Chuo-ku, which is engaged in the processing of marine products and the restaurant businesses. As of April 2018, the property was being demolished. The site has a land area of 1,417 m2. >>

Ichigo Hotel REIT selling Asakusa hotel for 1.4 times book value

Ichigo Hotel REIT will sell Smile Hotel Asakusa on August 1. The buyer is a domestic special purpose company. The price is 2.7 billion yen [$25 million] and the profit from the sale will be approximately 690 million yen [$6.3 million].>>

Louis Vuitton developing retail building in Osaka’s Shinsaibashi

The Japanese arm of Louis Vuitton will develop a retail building in Shinsaibashi, Osaka City. The building will have seven floors above ground and one below with 4,182 m2 of gross floor area. Completion is scheduled for November 2019.>>

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.>>

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.>>

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