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Invesco REIT stays quiet on TOB by Starwood

Invesco Office J-REIT decided to reserve its opinion on the take-over-bid (TOB) by the Starwood Capital Group at this time. At the same time, the REIT established a special committee that is independent from both its asset manager Invesco Global Real Estate Asia Pacific and Starwood who set up the TOB. ≫

UR purchases hotel in Harumi, Chuo-ku

Independent administrative institution Urban Renaissance Agency (UR) acquired a hotel in Harumi, Chuo-ku. The seller was... ≫

IHI, Mitsubishi implementing 3rd joint project in Toyosu

Heavy machinery manufacturer IHI and Mitsubishi Estate will develop two buildings that mainly consist of office floors in Toyosu, Koto-ku. The project will be the third joint development project by the two companies, following Toyosu Front and Toyosu Foresia, both located in Toyosu. ≫

Japan Metropolitan Fund to acquire two properties for Y30bn

Japan Metropolitan Fund, which is a REIT affiliated with trading firm Mitsubishi Corporation, will acquire a mixed-use building of offices and residences in Kudan-Kita, Chiyoda-ku, and a store in Shinsaibashi-suji, Chuo-ku, Osaka City, on April 30 for a total of approximately 29.94 billion yen [$260 million]. ≫

LaSalle Logiport acquiring large Osaka Bay area facility for Y40bn

LaSalle Logiport REIT will acquire a large logistics facility in Nanko-Naka, Suminoe-ku, Osaka City for 40 billion yen [$350 million]. ≫

LG sells floors of Kyobashi Trust Tower for 27bn

Chuo-ku's LG Holdings Japan, the Japanese arm of South Korea's LG Group, sold four floors in Kyobashi Trust Tower, an office building in Kyobashi, Chuo-ku. The sales price was approximately 27.26 billion yen [$240 million]. LG Holdings Japan is currently constructing... ≫

PAG acquires large office building in Shin-Yokohama

TMK Sun, which appears to be a special purpose company affiliated with Minato-ku-based PAG Investment Management, acquired an office building in Shin-Yokohama, Kohoku-ku, Yokohama City. ≫

LATEST NEWSMore

KYB leasing space at Hamamatsucho WTC South 04.19.2021

Invesco REIT stays quiet on TOB by Starwood 04.19.2021

IHI, Mitsubishi implementing 3rd joint project in Toyosu 04.19.2021

TEPCO Energy Partner leasing all of NBF Hatchobori Terrace 04.19.2021

UR purchases hotel in Harumi, Chuo-ku 04.19.2021

Diamond Realty Management creates separate account for Mizuho Leasing 04.16.2021

LaSalle Logiport acquiring large Osaka Bay area facility for Y40bn 04.16.2021

Japan Metropolitan Fund to acquire two properties for Y30bn 04.16.2021

Hoshino Resorts leaves mountains for the city in post-COVID era 04.16.2021

A.D. Works acquires apartment building in Kyodo, Setagaya-ku 04.16.2021

Analysis

Vacancy Nightmare to Be Avoided

Floor reductions due to telework, but forecast of limited impact

Due to the spread of telework, some companies have started to reduce leased office area. In order to investigate the impact on the rental office market, Nikkei Real Estate Market Report estimated the vacancy rate and advertised rent for the next three years with the cooperation of Commercial Property Research Institute. As a result, even the maximum vacancy rate will be 6.2%. Although the rent will be bearish, it seems that a significant fluctuation causing market congestion can be avoided. ≫

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