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MetLife Insurance acquires Ikebukuro office building

MetLife Insurance of Chiyoda-ku acquired Nishi-Ikebukuro Park Front Building, an office building in Nishi-Ikebukuro, Toshima-ku in June 2018. >>

Mitsubishi private REIT increases interest in Shinjuku Eastside Square

Private REIT Nippon Open Ended managed by Mitsubishi Jisho Investment Advisors of Chiyoda-ku, purchased a 10% quasi co-ownership interest in Shinjuku Eastside Square in Shinjuku, Shinjuku-ku. The transaction took place in March 2018. The seller was Mitsubishi Estate, which sponsors the REIT.>>

J-REIT market exceeds Y20tn; ARES

According to the survey conducted by the Association for Real Estate Securitization (ARES), the size of the J-REIT market exceeded the 20 trillion yen [$170 billion] mark in the second quarter (April to June) of 2018 by total AUM on an acquisition price basis. >>

Nomura incorporates Ebisu, Shibuya-ku restaurant building into private REIT

Nomura Real Estate Private REIT, a private REIT managed by Nomura Real Estate Asset Management of Shinjuku-ku, obtained GEMS Ebisu in Ebisu, Shibuya-ku. The transaction took place in March 2018 and the seller was Nomura Real Estate Development, which sponsors the REIT and is a developer of GEMS series.>>

Shinko Estate purchases Akasaka restaurant building

Shinko Estate of Shinjuku-ku, which is engaged in the real estate investment and vacant building renovation businesses, acquired Akasaka Ito Sogyo Building in Akasaka, Minato-ku. The transaction took place in April 2018. >>

Japan Hotel REIT to sell three properties for Y12bn

Japan Hotel REIT, an affiliate of SC Capital Partners of Singapore, will sell three hotels on August 10. The three properties are the b Akasaka-Mitsuke, R&B Hotel Higashi-Nihonbashi and the b Ochanomizu and the total sales price is 12.15 billion yen [$110 million]. The REIT concluded the contract with special purpose company Tiger 2 GK, the buyer, on August 7. >>

WeWork to establish seventh Tokyo location in Nogizaka, Minato-ku

WeWork will establish its collaboration office in Nogizaka in Minato-ku. WeWork plans to lease the former Sanyo Shokai Aoyama Building with a gross floor area of 5,861 m2 in its entirety and it is expected that the collaboration office will be established during 2018. This will be WeWork’s seventh location in Tokyo.>>

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

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Feature

Spotlight on Co-working

Fears loom among landlords but reduction in office demand limited

Co-working spaces are increasingly the topic of conversation. Although it seems that it will grow rapidly and contribute to the expansion of the rental office market in the short term, due to the nature of the sharing economy, there is a strong fear in the real estate industry that it will reduce the market in the medium to long term. Building owners and brokerage companies are likely to be forced to respond because there is the possibility that it will bring about qualitative changes in the market.>>

Transactions: 2Q 2018 | Occupier Market | Market Knowledge | Deals Roundup | Relocation Update | News Digest

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