Last Update: 04/09 2021 11:30 JST

Kenedix Retail REIT to acquire four properties for Y22.3bn

Kenedix Retail REIT will acquire four properties including a retail facility in Chofu City, Tokyo, for a total of approximately 22.34 billion yen [$200 million]. It will also sell a part of a retail facility in Inamachi, Saitama Prefecture.

Cosmos Initia sells Osaka Hommachi apartment

Condominium developer Cosmos Initia sold a rental apartment building in Itachibori, Nishi-ku, Osaka City.

B-Lot acquires apartment building near Tokyo Medical University in Shinjuku

Real estate company B-Lot acquired a rental apartment building in Tomihisacho, Shinjuku-ku. The company plans to...

Apa acquiring hotel in Osaka’s Shinsaibashi

Hotel chain operator Apa Group decided to purchase a hotel in Chuo-ku, Osaka City. The seller is Nishi-Nippon Railroad (Nishitetsu).

Japan Post subsidiary acquires apartment building in Kiba, Koto-ku

Chiyoda-ku-based Japan Post Real Estate acquired a rental apartment building in Kiba, Koto-ku. The company plans to...

Starwood to conduct TOB for Invesco Office J-REIT

Starwood Capital Group of the U.S. announced that it will conduct a take-over-bid (TOB) targeting Invesco Office J-REIT. The REIT remained undecided by saying “it was made unilaterally and suddenly, with no prior notification.”

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WHAT'S IN THE MONTHLY REPORT: APRIL 2021

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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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