Last Update: 02/22 2018 15:15 JST

Industrial Fund acquiring ten properties for Y21bn

Industrial & Infrastructure Fund (IIF), a REIT affiliated with trading firm Mitsubishi Corporation, signed a contract on February 20 to acquire ten properties including logistics facilities and leased sites of factories. The total price is approximately 21.36 billion yen [$190 million]. The properties will be handed over in March and April.>>

Mitsubishi, Matsuya acquire Ginza building for development

Mitsubishi Estate and department store operator Matsuya jointly acquired Kosaido Ginza Building in Ginza, Chuo-ku in December 2017. They hold 90% and 10% co-ownership interests in the building, respectively. The seller was Kosaido which is engaged in printing, publishing and other businesses. Mitsubishi Estate and Matsuya plan to jointly develop some type of facility. >>

Blackstone acquires apartment in Shinjuku-ku

Special purpose company Nikko Plus5 GK3, which is believed to be affiliated with the Blackstone Group, purchased Feuille D'or Mejiro, a rental apartment building in Shimo-Ochiai, Shinjuku-ku. The transaction took place in November 2017. The seller was Chiyoda-ku's OH Real Estate Management, which is under the umbrella of homebuilder Open House. The company acquired these properties in June 2017 and sold them about four months later in this transaction.>>

34,000 m2 GFA hotel building planned in Osaka

It has come to light that real estate developer Wise Holdings of Minato-ku, Tokyo has a plan to develop a high-rise mixed-use building mainly consisting of hotel floors in Sonezaki, Kita-ku, Osaka City. Plans call for the building to have a gross floor area of more than 34,000 m2 and opening is targeted in or around 2022. >>

Samty acquires closed building in Nagoya for development

Osaka-based real estate developer Samty acquired former Edion Nagoya Main Store in Meieki, Nakamura-ku, Nagoya City, Aichi in September 2017. The seller was Nagoya City based Manrakuan, which is engaged in the multi-purpose space rental business and other businesses. The property has eight floors above ground and one below with a gross floor area of 8,103 m2. Samty is planning to conduct some kind of development.>>

Panasonic subsidiary developing rental building in Ginza

PanaHome, a housebuilder belongs to the Panasonic Group, will construct a rental building in Ginza, Chuo-ku. The building will have ten floors above ground and one below with 746 m2 of gross floor area, according to the signboard at the construction site. >>

Sony Music sells two office buildings

Chiyoda-ku based Sony Music Entertainment, a Sony subsidiary, sold SME Nogizaka Building and SME Ichigaya Building in February 2018. A capital gain of approximately 10 billion yen [$89 million] is expected to be posted.>>

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

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2017 Transactions

Stream of Big Deals

Foreign investors lead sales volume to post-GFC record high

The sales transaction amount for 2017 recorded the highest amount since the Global Financial Crisis at approximately 4.2 trillion yen [$37 billion]. Numerous big deals centering on bulk sales conducted by foreign players pushed up the amount. Japanese corporations also became more active in investing abroad, leading to a year when crossborder interactions increased on the market. On the other hand, the stagnating stock prices weighed heavily upon the property acquisition activities of REITs.>>

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