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Tokyo Garden Terrace Kioicho sold for over Y300bn, set for Japan's largest-ever STO

Tokyo Garden Terrace Kioicho sold for over Y300bn, set for Japan's largest-ever STO

A special purpose company of Blackstone of the U.S. will sell the office portion and retail facility portion of Tokyo Garden Terrace Kioicho, a large mixed-use facility in Kioicho, Chiyoda-ku. The buyers are...

A.D. Works and Nankai acquire Nihombashi-Hamacho building

A.D. Works and Nankai acquire Nihombashi-Hamacho building

Lifull sells four accommodation facilities for Y5.5bn

Lifull sells four accommodation facilities for Y5.5bn

MFLP REIT fully acquiring Osaka Bayshore logistics facility

MFLP REIT fully acquiring Osaka Bayshore logistics facility

Sekisui House REIT to acquire apartment in Hachioji

Sekisui House REIT to acquire apartment in Hachioji

Mitsubishi developing apartment building with retail spaces in Setagaya-ku

Mitsubishi developing apartment building with retail spaces in Setagaya-ku

LATEST NEWS

Tokyo Garden Terrace Kioicho sold for over Y300bn, set for Japan's largest-ever STO

Tokyo Garden Terrace Kioicho sold for over Y300bn, set for Japan's largest-ever STO

Japan Oil Transportation to relocate to Osaki Riverwalk in 2027

Japan Oil Transportation to relocate to Osaki Riverwalk in 2027

Daiwa House developing 2,500 m2 GFA hotel in Asakusa vicinity

Daiwa House developing 2,500 m2 GFA hotel in Asakusa vicinity

A.D. Works and Nankai acquire Nihombashi-Hamacho building

A.D. Works and Nankai acquire Nihombashi-Hamacho building

MFLP REIT fully acquiring Osaka Bayshore logistics facility

MFLP REIT fully acquiring Osaka Bayshore logistics facility

Toyota Tsusho relocating Tokyo Head Office to Yaesu

Toyota Tsusho relocating Tokyo Head Office to Yaesu

Sekisui House REIT to acquire apartment in Hachioji

Sekisui House REIT to acquire apartment in Hachioji

Lifull sells four accommodation facilities for Y5.5bn

Lifull sells four accommodation facilities for Y5.5bn

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EDITORS' PICK

Japan Post Real Estate establishes AM company, Y10bn fund

Japan Post Real Estate establishes AM company, Y10bn fund

Japan Post Real Estate established Japan Post Real Estate Investment Management, which is an asset management company. The new company has set the achievement of an AUM of 50 billion yen [$310 million] by fiscal 2028 as its first target.

KKR sells domestic hotel portfolio with 3,468 guestrooms

KKR sells domestic hotel portfolio with 3,468 guestrooms

Hong Kong’s Weave completes exit of large Y55bn residential fund

Hong Kong’s Weave completes exit of large Y55bn residential fund

Tokyo Tatemono joins first Australian logistics fund

Tokyo Tatemono joins first Australian logistics fund

Brookfield invests more than Y100bn in Japan residences

Brookfield invests more than Y100bn in Japan residences

Hulic and peers spend $1.5bn on Tokyo office tower deal

Hulic and peers spend $1.5bn on Tokyo office tower deal

Japanese life insurers expand investments in property amid inflation

Japanese life insurers expand investments in property amid inflation

Keppel and its REIT to acquire two data centers in Inzai City, Chiba

Keppel and its REIT to acquire two data centers in Inzai City, Chiba

Kasumigaseki Capital sells site in Miami, U.S., to Japanese fund

Kasumigaseki Capital sells site in Miami, U.S., to Japanese fund

GLP Japan’s latest fund completes closing with investment exceeding Y600bn

GLP Japan’s latest fund completes closing with investment exceeding Y600bn

MOST READ

MFLP REIT fully acquiring Osaka Bayshore logistics facility

Mitsubishi developing apartment building with retail spaces in Setagaya-ku

Lifull sells four accommodation facilities for Y5.5bn

Toyota Tsusho relocating Tokyo Head Office to Yaesu

A.D. Works acquires apartment building in Azabu-Juban

Sekisui House REIT to acquire apartment in Hachioji

Daiwa fund buy of Blackstone Tokyo office complex include retail digital securities

Toyota Fudosan acquires WeWork Nogizaka

Nippon REIT selling two properties for Y7.6bn

Heiwa REIT reshuffling Y16bn worth of assets

Sun Frontier acquires Ikebukuro building from Hulic

Ichigo subsidiary sells apartment building in Tsukiji Outer Market area

Daiichi Life Insurance, Nomura join JR East fund

JR West subsidiary acquires apartment in Hiroo vicinity

KDX Realty REIT to sell Yokohama leased site for Y1.7bn

Ichigo Office REIT to sell Tokyo office buildings for Y19bn

Cosmos Initia secures hotel development site in Shinsaibashi

Heiwa REIT reshuffling Y16bn worth of assets

Rebita acquires apartment building in Shibuya-ku

Ruf flips mixed-use building in Shibuya

Mitsui to build data center in abandoned tunnel in Japan

Frontier Estate acquires Nishi-Shinjuku building

Creal sells warehouse in Jonanjima, Ota-ku

Daiwa House sells building in Omori, Ota-ku

Hulic, others-invested SPC acquired office near Tokyo Station

Sankei Building group forms private fund by acquiring Tokyo properties

Arozee acquires two buildings in Chuo-ku and Shibuya-ku

Sun Frontier Fudousan and Itochu jointly acquire Shiba building

Hoosiers acquires apartment development site in Nihombashi-Hamacho

Keio Corporation sells Onarimon building

Castle in the Air

MONTHLY REPORTS

WHAT'S IN THE MONTHLY EDITION: OCTOBER 2026

Investigation

Castle in the Air

Tracing the origins of a 200 billion yen pipe dream of Minnade Oyasan

The castle tower featured in the pamphlet was never an investment target. A majority of investor money was siphoned out through third-party beneficiary transactions. The plan for an ultra-luxury hotel with stays priced at “5 million yen per night” dissipated without ever taking shape. The remaining funds evaporated into purchases of helicopters and bonsai plants. This article traces the transactions surrounding a theme park acquisition lauded as the “preparatory project” for the Narita development through data and sources close to the matter.

Case Study | Occupier Market | Market Knowledge | Deals Roundup | Relocation Update | News Digest

TRENDS

Daiichi Life Insurance, Nomura join JR East fund

Daiichi Life Insurance, Nomura join JR East fund

REIT KDX Kolet to list in November with Y91.9bn AUM

Dai-ichi Life affiliated REITs to merge, assets to reach Y300bn

Sumitomo Forestry and Chuo-Nittochi to build apartment near Los Angeles

Marubeni Asset Management launches fifth fund, cumulative AUM over Y100bn

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DEALS

Tokyo Garden Terrace Kioicho sold for over Y300bn, set for Japan's largest-ever STO

Tokyo Garden Terrace Kioicho sold for over Y300bn, set for Japan's largest-ever STO

A.D. Works and Nankai acquire Nihombashi-Hamacho building

MFLP REIT fully acquiring Osaka Bayshore logistics facility

Sekisui House REIT to acquire apartment in Hachioji

Lifull sells four accommodation facilities for Y5.5bn

MORE

PROJECTS

Daiwa House developing 2,500 m2 GFA hotel in Asakusa vicinity

Daiwa House developing 2,500 m2 GFA hotel in Asakusa vicinity

Mitsubishi developing apartment building with retail spaces in Setagaya-ku

Tokyu Land to develop three buildings in Sakuragaoka, Shibuya

Panasonic Homes and Marimo acquire Takanawa apartment building

TC Kobelco Real Estate developing hotel in Osaka’s Namba

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TENANTS

Japan Oil Transportation to relocate to Osaki Riverwalk in 2027

Japan Oil Transportation to relocate to Osaki Riverwalk in 2027

Toyota Tsusho relocating Tokyo Head Office to Yaesu

Camcom to expand office at Meiji Yasuda Shinjuku Building

Shionogi to move to Tamachi Station West Exit Area project

UCB Japan to move into Meiji Yasuda Shinjuku Building

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STATS

Record-High Expect “Rise” in Logistics Facility Rents

Record-High Expect “Rise” in Logistics Facility Rents

What Happens to Demolished Office Buildings?

More Expecting Downturn Phase in Six Months

Tokyo Office Rents to Rise 16% Over Next Five Years

Logistics Facility Vacancy Rate in Greater Tokyo Area Drops

MORE

LOCAL

MFLP REIT fully acquiring Osaka Bayshore logistics facility

MFLP REIT fully acquiring Osaka Bayshore logistics facility

Heiwa REIT reshuffling Y16bn worth of assets

Cosmos Initia secures hotel development site in Shinsaibashi

TC Kobelco Real Estate developing hotel in Osaka’s Namba

IIF REIT to make investment in hyperscale data center

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BUSINESS

Daiwa fund buy of Blackstone Tokyo office complex include retail digital securities

Daiwa fund buy of Blackstone Tokyo office complex include retail digital securities

Japan weighs taxing real estate rental operators living overseas

Japan weighs taxing real estate rental operators living overseas

Tokyo ward seeks 5-year ban on condo resales at redevelopment project

Tokyo ward seeks 5-year ban on condo resales at redevelopment project

Central Tokyo existing condo prices slip for 5th straight month

Central Tokyo existing condo prices slip for 5th straight month

JR East steps up rail-linked retail push in Singapore, Philippines

JR East steps up rail-linked retail push in Singapore, Philippines

Tokyo area condo prices hit half-year record, but signs of slowdown emerge

Tokyo area condo prices hit half-year record, but signs of slowdown emerge

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DATA

Transaction Data

73 Transactions Data - Up to May, 2009

2009.6.25

103 Transactions Data - Up to April, 2009

2009.5.29

74 Transactions Data - Up to March, 2009

2009.4.30

81 Transactions Data - Up to February, 2009

2009.3.31

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

2010.1.7

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