Last Update: 11/30 2021 13:00 JST

Kenedix Residential Next to conduct Y9.7bn in asset replacements

REIT Kenedix Residential Next will acquire two residences and two elderly housing with supportive services (SaKoJu). On the other hand, it will sell one residence in Tokyo. The total amount of transactions will be 9.72 billion yen [$83 million].

Fire at GLP J-REIT asset, impact on performance unclear

GLP J-REIT announced on November 29 that a fire broke out at its portfolio asset GLP Maishima II. It will report on the cause of the fire, the damage and the impact on performance as soon as these are known.

Kousai Kaikan to be reconstructed to 36,400 m2 GFA building

Public interest incorporated foundation Tetsudou Kousaikai of Bunkyo-ku will reconstruct Kousai Kaikan Building in Kojimachi, Chiyoda-ku.

Kasumigaseki Capital, Mitsubishi HC Capital jointly developing logistic facilities

Kasumigaseki Capital and Mitsubishi HC Capital concluded a joint venture agreement regarding logistics facility development projects. The two companies aim to develop logistics facilities with a total project cost of 200 billion yen [$1.7 billion] over the next three years.

Dai-ichi Life acquires office floors of Italian Cultural Institute

Dai-ichi Life Insurance acquired office floors of Italian Cultural Institute Building, a mixed-use facility in Kudan-Minami, Chiyoda-ku. The seller appears to be...

Loan balance to real estate industry reaches record Y112tn

The balance of outstanding loans granted by domestic financial institutions (banks, credit unions, governmental financial institutions, etc.) to the private-sector real estate industry reached 112 trillion yen [$960 billion] (Figure 1) as of September 2021. Results compiled by Nikkei Real Estate Market Report based on data announced by the Bank of Japan (BOJ) showed...

Japan Excellent REIT to acquire building in Sapporo

REIT Japan Excellent, which is affiliated with Minato-ku based Nippon Steel Kowa Real Estate, will acquire part of a mixed-use building in Chuo-ku, Sapporo City. With this transaction, the REIT’s acquisition price based AUM will be approximately 286.61 billion yen [$2.5 billion].

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WHAT'S IN THE MONTHLY REPORT: NOVEMBER 2021

Past Monthly Reports
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Area in Focus: Ginza

Unseen Level of Store Vacancies

Luxury brands opening stores, but transactions at all-time low
Ginza is finally starting to see the light of day after Covid-19. Luxury brands are increasing demand to open stores on high streets like Chuo-dori Street and Harumi-dori Street, and the retail rental market is showing signs of improvement. On the other hand, there are fewer properties for sale than ever before and conclusion of transactions have become even less frequent, resulting in the number of sales transactions reached a record low as surveyed by the Nikkei Real Estate Market Report.
Transactions: 3Q 2021 | Occupier Market | Market Knowledge | Deals Roundup | Relocation Update | News Digest

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