Last Update: 06/22 2021 06:00 JST

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.

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WHAT'S IN THE MONTHLY REPORT: JUNE 2021

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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.
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