Last Update: 07/29 2021 14:00 JST

Nippon REIT to sell three Tokyo office buildings

Sojitz-affiliated Nippon REIT will sell three office buildings it owns in Tokyo. With these sales, the REIT’s acquisition price-based AUM will be 248.32 billion yen [$2.2 billion] in 99 properties.

B-Lot sells new apartment building in Nagoya City

Real estate company B-Lot sold a rental apartment building in Showa-ku, Nagoya City. The buyer was...

Loadstar Capital purchases building near Akabanebashi Station in Minato-ku

Loadstar Capital acquired a mixed-use building in Higashi-Azabu, Minato-ku. The seller was...

Dai-ichi Life to build 16,000m2 GFA wood hybrid building

Dai-ichi Life Insurance will develop a rental office building with a wood hybrid structure in Kyobashi, Chuo-ku. Slated to be completed in or after 2025, it will have 12 floors above ground, two below and a gross floor area of around 16,000 m2.

Sumitomo Mitsui Trust Bank acquires Gotanda office building

Sumitomo Mitsui Trust Bank's subsidiary Sumitomo Mitsui Trust General Service of Minato-ku acquired an office building in Nishi-Gotanda, Shinagawa-ku.

Hong Kong’s Phoenix acquires Kyoto hotel

Hong Kong’s Phoenix Property Investors acquired a hotel in Nakagyo-ku, Kyoto City.

Nomura Master Fund to acquire leased site adjacent to Universal Studios Japan

REIT Nomura Real Estate Master Fund will acquire part of the leased site of Universal Citywalk Osaka in Konohana-ku, Osaka City. With this transaction, the REIT’s acquisition price based AUM will be approximately 1.07 trillion yen [$9.4 billion].



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Local Markets: Osaka

Betting on Demand Bounce

Investors not concerned even by signs of potential land price collapse
Having lost inbound consumption, a pillar of its economy in recent years, Osaka is under quasi-state of emergency declaration and its Minami area has fallen quiet, also losing domestic visitors. Despite this, some particularly opportunistic foreign funds have started acquiring hotels and retail facilities, predicting that demand will return. On the other hand, most office tenants are in a wait-and-see mood, so relocation and expansion are sluggish in the office market.
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