Last Update: 11/26 2021 06:00 JST

Phoenix to conduct large-scale renovation of Shinsaibashi office building

Phoenix Property Investors of Hong Kong acquired an office and retail building in Chuo-ku, Osaka City. The company is expanding its investment in Japan, and it has been revealed that it acquired Hotel Resol Kyoto Kawaramachi Sanjo in Nakagyo-ku, Kyoto City in May 2021.

Es-Con purchases building beside Shimbashi Station

Real estate company Es-Con Japan acquired a retail and office building in Shimbashi, Minato-ku.

Sekisui House developing condominium in Shibuya vicinity

Sekisui House will start construction of tentatively-named Shibuya-ku Hachiyamacho Project. Completion is targeted for July 2024.

GMO Internet to partially acquire Setagaya Business Square, etc.

GMO Internet will partially acquire both of Setagaya Business Square in Yoga, Setagaya-ku, and Cerulean Tower in Sakuragaokacho, Shibuya-ku, on December 1 for a total price of approximately 27 billion yen [$230 million].

Tokyu REIT acquiring part of Aoyama Oval for Y18.6bn

Tokyu REIT will acquire part of Aoyama Oval Building, an office and retail building in Jingumae, Shibuya-ku. The price is 18.6 billion yen [$160 million].

Mizuho affiliated REIT sells Namba apartment to Blackstone

One Private REIT, which is affiliated with Mizuho Trust & Banking Corporation, sold a rental apartment with 160 units in Naniwa-ku, Osaka City. The buyer is a special purpose company of the Blackstone Group, according to sources.

Shinwa Real Estate acquires 10,000m2 of Osaka city land

Shinwa Real Estate acquired development sites of 10,375 m2 in Konohana-ku, Osaka City, for approximately 2.52 billion yen [$22 million]. The seller was Osaka City.

Nomura developing PMO brand office, 3rd in Shimbashi area

Nomura Real Estate Development will construct a medium-size office building in Shimbashi, Minato-ku. The property will be the third building for the company in its Premium Midsize Office (PMO) series in the Shimbashi area.

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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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