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2025 Year in Review - Top 10 Deals
DEALS

2025 Year in Review - Top 10 Deals

These are the largest real estate transactions by price reported in 2025 by the Nikkei Real Estate Market Report. Investment demand this year continued to be strong for large-scale properties regardless of the property type.

NEW
Dentsu to post Y30bn gain from Ginza building sale
DEALS

Dentsu to post Y30bn gain from Ginza building sale

NEW
PAG and KKR to acquire Sapporo Real Estate shares
TRENDS

PAG and KKR to acquire Sapporo Real Estate shares

NEW
Amazon to return floors leased in Meguro Arco Tower
TENANTS

Amazon to return floors leased in Meguro Arco Tower

NEW
Nomura, Keio Group acquire former Iwatani Tokyo Head Office
DEALS

Nomura, Keio Group acquire former Iwatani Tokyo Head Office

JR East and Itochu to integrate real estate subsidiaries
TRENDS

JR East and Itochu to integrate real estate subsidiaries

NEW

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MONTHLY REPORTS

WHAT'S IN THE MONTHLY EDITION: DECEMBER 2025

Investigation

Deciphering of Narita Land "Cost Sheet"

Hidden scheme behind the missing 150 billion yen revealed

Problems, including the suspension of distribution payments, continue for real estate crowdfunding platform “Minnade Oyasan.” Their fate lies in the hands of the Narita Project, which had attracted investments in excess of 150 billion yen [$950 million]. Based on the “cost sheet” obtained by Nikkei Real Estate Market Report, the land appraisal value at the funds was up to 125 times the purchase prices. Various suspicious transactions, including the use of a scheme known as “santame” or third-party beneficiary transactions, were conducted to transfer gains on resale to an unregulated group company have come to light one after another.

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DATA

Transaction Data

73 Transactions Data - Up to May, 2009

103 Transactions Data - Up to April, 2009

74 Transactions Data - Up to March, 2009

81 Transactions Data - Up to February, 2009

3360 Transactions Data - Up to January, 2009 ( CSV only )