Last Update: 08/23 2019 06:00 JST

GIC acquires office building in Nihonbashi

SST West TMK, a special purpose company formed by Singaporean sovereign wealth fund GIC, acquired an office building in Nihonbashi-Tomizawacho, Chuo-ku. >>

Aeon REIT to acquire retail facilities in Fukuoka and Tokyo

Aeon REIT will acquire two retail facilities. With these transactions, the REIT’s acquisition price based AUM will be approximately 390.19 billion yen [$3.5 billion] in 42 properties.>>

Kenedix acquires hotel in Otsuka, Toshima-ku

GK KHF4, a special purpose company believed to be formed by Kenedix, purchased a hotel in Minami-Otsuka, Toshima-ku. The seller was Shinjuku-ku-based real estate developer Shin-Nihon Tatemono. >>

Fujisoft establishing new base in Shiodome in 2022

Systems integrator Fujisoft will start construction of two new office buildings for its own use in Shiodome West District in Higashi-Shinbashi, Minato-ku in January 2020. The buildings will be designed and constructed by general contractor Takenaka. Completion is targeted for January 2022 for Building A and December 2020 for Building B.>>

Japan Excellent REIT to acquire Akasaka office building

REIT Japan Excellent will purchase an office building in Akasaka, Minato-ku. The transaction will take place on October 1.>>

WHAT'S IN THE MONTHLY REPORT: AUGUST 2019Past Monthly Reports

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Transactions: 2Q 2019

Large Properties at Higher Prices

The opportunity for sales spreads

The rise in real estate prices is conspicuous. In the second quarter, there were many cases in which properties being sold at a price much higher than when they were acquired including the case of Aoyama Building, which was transacted for 84 billion yen [$750 million]. Asset replacements by REITs are also active due to the favorable condition of the real estate transaction market. Many large office buildings, logistics facilities and hotels were transacted during the period and the sales transaction amount increased by 34% year-on-year.>>

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