Last Update: 02/22 2019 14:00 JST

Retail Fund selling Tokyu Hands occupied Osaka building

Japan Retail Fund (JRF), a REIT associated with trading house Mitsubishi Corporation, will sell 8953 Osaka Shinsaibashi Building, which is leased by Tokyu Hands in its entirety, in August 2019. The sales price is 14.9 billion yen [$130 million]. >>

Nomura to redevelop on former Hotel Okura Tokyo Annex site

Nomura Real Estate Development will redevelop Hotel Okura Tokyo Annex in Roppongi, Minato-ku into two super high-rise buildings composed of a residential building and an office building with an aggregate gross floor area of approximately 111,000 m2. >>

Mitsubishi developing apartment building in Iidabashi, Chiyoda-ku

Chiyoda-ku's Mitsubishi Jisho Residence will start construction of a rental apartment building in Iidabashi, Chiyoda-ku in April 2019. The structure will have 12 floors above ground with 2,661 m2 of gross floor area. >>

Fuyo General Lease acquires 50% of large Toyosu building

Fuyo General Lease, which is affiliated with the Mizuho Financial Group, acquired 50% of the ownership to Hulic Toyosu Prime Square in Toyosu, Koto-ku in December 2018. The seller was Hulic, which still owns the remaining 50% ownership interest in the building. >>

Es-Con acquires two retail facilities beside Tsukuba Station in Ibaraki

Real estate company Es-Con Japan purchased retail facilities in Tsukuba City, Ibaraki Prefecture. The facilities have a total of around 110 tenants and their occupancy rate exceeds 90% as of December 2018. >>


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Transactions: 2018

Active Land Transaction

Sales transaction amount returns to downward trend

The sales transaction amount returned to the 2016 level again in 2018 from the 2017 amount that recorded the highest ever recorded since the global financial crisis. While property acquisitions by listed REITs remain strong, big deals by foreign players decreased and the sales transaction amount remained stagnant. In particular, a downward trend was seen in the second quarter (April to June) onwards and the market is becoming more uncertain. Land transactions including investments in large-scale development sites and leased land were active.>>

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