NIKKEI REAL ESTATE MARKET REPORT

Last Update: 06/22 2021 06:00 JST
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Hong Kong’s investor acquires Osaka hotel

Glory Limited GK, which is a special purpose company invested in by an investor in Hong Kong, acquired a hotel in Minami-Semba, Chuo-ku, Osaka City. ≫

Mitsui acquires former retail building in Koto-ku

Chuo-ku's Mitsui Fudosan Residential acquired former Daiei Ojima Store in Ojima, Koto-ku. The company is considering plans for redevelopment of the site. ≫

Yokohama office and retail building sold

Special purpose company Derby TMK acquired an office and retail building in Minaminaka-dori, Naka-ku, Yokohama City. ≫

Kintetsu and DBJ form fund, incorporate Kasumigaseki building

Osaka City based Kintetsu Real Estate incorporated an office building in Kasumigaseki, Chiyoda-ku, Tokyo into a real estate private fund formed jointly with the Development Bank of Japan (DBJ). Chiyoda-ku based DBJ Asset Management will be in charge of asset management. The fund will continue to expand its assets and aim to achieve an AUM of 40 billion yen [$360 million]. ≫

Tokyu Corp, SMFL Mirai Partners acquire Azabu serviced apartment

Tokyu Corporation and Chiyoda-ku-based SMFL Mirai Partners acquired a serviced apartment building in Higashi-Azabu, Minato-ku. ≫

Starwood’s TOB for Invesco REIT fails

The U.S.’s Starwood Capital Group’s take-over-bid (TOB) targeting Invesco Office J-REIT failed, the two announced. ≫

LATEST NEWSMore

Hong Kong’s investor acquires Osaka hotel
Kyoritsu Seiyaku moving to Kudan-Minami Itchome Project
Yokohama office and retail building sold
Foundation moving to Bunkyo Garden Gatetower
Daiwa House developing mixed-use building in Yokohama
VLC Holdings concentrating offices to Edomi-Zaka Mori Building
Mitsui acquires former retail building in Koto-ku
Kintetsu and DBJ form fund, incorporate Kasumigaseki building
Starwood’s TOB for Invesco REIT fails
Hamamatsucho WTC redevelopment to add hotel

WHAT'S IN THE MONTHLY REPORT: JUNE 2021

Past Monthly Reports
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Feature

Slew of Planned Projects

Development underway for 99 buildings, GFA of 10 million m2
A total of 99 large-scale office buildings, each with a gross floor area of at least 10,000 m2, are to be completed in the 23 wards of Tokyo in or after 2021 for an aggregate gross floor area reaching 10.08 million m2. In addition to the reconstruction of Imperial Hotel Tokyo, 24 projects were newly revealed over the past year. Many projects are scheduled to be implemented even after the peak of the supply of office buildings in 2025. ≫
Under Construction Survey | Market Knowledge | Deals Roundup | Relocation Update | News Digest

TRENDS

More
Starwood’s TOB for Invesco REIT fails
Singapore’s Genting consortium applied to Yokohama’s IR open call
Misawa Homes’ first overseas rental apartment complex near Denver
Sotetsu Hotel Development to open first Thailand hotel
Mitsubishi, Tokyo Century to fund U.S. data center development
Tokaido REIT to list in June with Y30.3bn AUM
Sotetsu, Mercuria Investment to join Thailand condominium development project
Invesco REIT and sponsor oppose TOB by Starwood
JR East establishes asset manager with eye on REIT
Japan Metropolitan Fund to acquire private REIT investment units

DEALS

More
Hong Kong’s investor acquires Osaka hotel
Yokohama office and retail building sold
Daiwa House developing mixed-use building in Yokohama
Mitsui acquires former retail building in Koto-ku
Kintetsu and DBJ form fund, incorporate Kasumigaseki building
Ardepro sells residential, retail building in Jingumae, Shibuya-ku
Tokyu Corp, SMFL Mirai Partners acquire Azabu serviced apartment
Ardepro acquires old building near Suidobashi Station in Chiyoda-ku
Tokyu Corporation acquires office building in Jingumae, Shibuya-ku
Nomura to reconstruct long-established Ginza restaurant into office

PROJECTS

More
Daiwa House developing mixed-use building in Yokohama
Hamamatsucho WTC redevelopment to add hotel
Sumitomo Corp to construct PREX series office in Shiba, Minato-ku
Mitsubishi developing rental office building in Shimbashi
Kasumigaseki Capital selling Funabashi development site to Brookfield
Mitsubishi to construct office, retail building in Nihombashi-Ningyocho
Sohgo Housing developing apartment building in Kamata, Ota-ku
Daiwa House secures development site in Kachidoki, Chuo-ku
JA Mitsui Leasing starts operating warehouse in Takatsuki City, Osaka
Tokyu Land, Keikyu Corp to redevelop Sengakuji station district

TENANTS

More
Kyoritsu Seiyaku moving to Kudan-Minami Itchome Project
Foundation moving to Bunkyo Garden Gatetower
VLC Holdings concentrating offices to Edomi-Zaka Mori Building
Yamasa moving Tokyo Office to Kokusai Hakozaki Building
R.connect expanding office, relocating to Izumi Garden Tower
Payment service provider moving to Spaces Shinagawa in Minato-ku
SMBC Trust Bank moving to SMBC building in Marunouchi
Lancers integrating subsidiary to Tokyu REIT Shibuya R Building
Imagica Group moving to newly constructed The Takeshiba Redevelopment
Exeo Japan moving to Yokohama Landmark Tower

STATS

More
Japan drops two ranks to 16th in RE transparency: JLL
COVID-19 affects asset types differently: Daiwa Real Estate Appraisal
BOJ survey indicates business conditions declining due to coronavirus
Loans to real estate exceed Y100tn for first time
Loans to real estate reach Y99tn as capital demand remains avid
Loans for individuals decreased 20% and for real estate reach turning point
J-REIT market exceeds Y20tn: ARES
No celebration despite Japan rising to 14th in RE transparency: JLL
Loans to real estate hits highest ever at Y97tn; momentum likely to peak out
Loans to real estate continues to increase, balance at almost Y95tn

NIKKEI.com

More
Japan restricts land deals near strategic assets
Genting Singapore-led group in running for Yokohama casino deal
Japan pushes solar panel mandate for new public buildings
Goldman to double Japan property investments to over $2bn a year
Galaxy Entertainment pulls out of Yokohama casino resort project
Mitsubishi Estate makes $2bn push into US data centers
Oyo's Japan unit sells long-suffering residential business
Japan's K-shaped recovery emerges in home prices amid COVID crisis
Hoshino Resorts leaves mountains for the city in post-COVID era
Why tiny buildings are big in Japan

Most Read Articles

Today
Weekly
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Starwood’s TOB for Invesco REIT fails
Mitsui acquires former retail building in Koto-ku
Hong Kong’s investor acquires Osaka hotel
Japan restricts land deals near strategic assets
Yokohama office and retail building sold
Tokyu Corp, SMFL Mirai Partners acquire Azabu serviced apartment
Blackstone acquires rental apartment building in Shinjuku-ku
Tokyu Corporation acquires office building in Jingumae, Shibuya-ku
Kintetsu and DBJ form fund, incorporate Kasumigaseki building
Daiwa House developing mixed-use building in Yokohama
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Latest NewsView all

Hong Kong’s investor acquires Osaka hotel
Kyoritsu Seiyaku moving to Kudan-Minami Itchome Project
Yokohama office and retail building sold
Foundation moving to Bunkyo Garden Gatetower
Daiwa House developing mixed-use building in Yokohama
VLC Holdings concentrating offices to Edomi-Zaka Mori Building
Mitsui acquires former retail building in Koto-ku
Kintetsu and DBJ form fund, incorporate Kasumigaseki building
Starwood’s TOB for Invesco REIT fails
Hamamatsucho WTC redevelopment to add hotel

Editors' Pick

Germany’s Deka Immobilien acquires Osaka Dotonbori landmark
Singaporean REIT to acquire Hewlett-Packard Japan HQ Building
Goldman to double Japan property investments to over $2bn a year
PGIM acquires office building in Toyocho, Koto-ku
Singapore's Digital Edge purchasing data center in Tokyo
Prologis developing fifth multi-tenant logistics facility in Kobe
Mori Trust to build 31,000 m2 GFA hotel and office in Akasaka
Mitsubishi, Tokyo Century to fund U.S. data center development
Tokyu Corp, LVMH group to redevelop flagship department store
Sotetsu, Mercuria Investment to join Thailand condominium development project
Mitsubishi and TBS developing high-rise buildings in Akasaka
LaSalle’s fund acquires ten properties for Y35bn

MORE SURVEYS AND ANALYSIS

CLOSING RENT SURVEY Our proprietary survey of closing rents for rental office buildings in Tokyo and Yokohama.
RETAIL RENT SURVEY Advertised rents and vacancies on major shopping streets in Ginza, Omotesando, Shinjuku, etc.
PROJECT MAP A map and list of the 100 large-scale office building development projects currently in progress in Tokyo.
OFFICE CAP RATES Quarterly cap rate survey on office building transactions, based on our proprietary estimation
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