NIKKEI REAL ESTATE MARKET REPORT

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Morgan Stanley wholly owns large Minato-Mirai office building

PPFA Japan Six TMK acquired additional 50% of the ownership in an office and retail building in Minato-Mirai, Nishi-ku, Yokohama City. The buyer is a special purpose company established by Morgan Stanley Real Estate Investing, which is under the umbrella of Morgan Stanley, and operates real estate private funds specializing in properties in Asia. ≫

JRE REIT to sell Harumi Center Building for Y24.3bn

REIT Japan Real Estate (JRE), which is affiliated with Mitsubishi Estate, will sell Harumi Center Building in Harumi, Chuo-ku. The price is 24.33 billion yen [$180 million]. ≫

Loadstar Capital flips office building in Takadanobaba, Shinjuku-ku

Loadstar Capital sold an office property in Takadanobaba, Shinjuku-ku. The buyer was... ≫

Deutsche Bank moving into Toranomon-Azabudai Project completed in 2023

Deutsche Bank will relocate its Tokyo Branch to tentatively-named Toranomon-Azabudai Project, which is scheduled to be completed in March 2023. ≫

Hulic to build data center in Nihombashi-Kobunacho

Hulic will rebuild Kobunacho Kinenkaikan Building in Nihombashi-Kobunacho, Chuo-ku. It is scheduled to build a data center. ≫

Dai-ichi Life’s private REIT acquires Itabashi apartment building

DL Life Partner REIT, which is a private REIT, acquired a rental apartment building in Futabacho, Itabashi-ku. ≫

Sun Frontier sells building in Akihabara vicinity

Real estate company Sun Frontier Fudousan sold an office building in Higashi-Kanda, Chiyoda-ku. ≫

LATEST NEWSMore

JRE REIT to sell Harumi Center Building for Y24.3bn
Creal acquires newly built Nakano-Shimbashi apartment building
Open House developing condominium in Arakawa-ku
Morgan Stanley wholly owns large Minato-Mirai office building
B-Lot's SPC acquires two properties including Sapporo retail facility
Ichigo subsidiary acquires Shirokane-Takanawa apartment building
Self-storage operator Palma sells facility in Ota-ku
Deutsche Bank moving into Toranomon-Azabudai Project completed in 2023
Retail building in Ota-ku changes hands
Loadstar Capital flips office building in Takadanobaba, Shinjuku-ku

WHAT'S IN THE MONTHLY REPORT: MAY 2022

Past Monthly Reports
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Transactions: 1Q 2022

Land Sales Boom

Transaction volume down 8% despite presence of mega deals
Although the real estate market is generally recovering from the impact of the Covid-19 pandemic, transaction volume in the first quarter of 2022 fell 8% year-on-year to the lowest first-quarter figure since 2013. Amid this, there were also approximately 2.5 times more land sales year-on-year in terms of transaction volume. REITs notably sold older office buildings and replaced them with newer buildings, which supported the market. ≫
Occupier Market | Market Knowledge | Deals Roundup | Relocation Update | News Digest

TRENDS

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Grit subsidiary Liv-up acquires Universal Trust
Diamond Realty Management closes eighth mezzanine fund
JR West establishes private fund, eyes establishment of REIT
Kansai Electric subsidiary selling 208 housing lots near Sydney
Haseko Corp invests in Sumitomo Forestry’s private U.S. fund
Apa Group to acquire hotel in Calgary, Canada
Daiwa House to develop rental apartment in Maryland
KKR to acquire Mitsubishi Corp. - UBS Realty for Y230bn
SMFL Mirai Partners and Kenedix make joint Singapore investment
Mori Trust acquires office buildings in Virginia, U.S.

DEALS

More
JRE REIT to sell Harumi Center Building for Y24.3bn
Creal acquires newly built Nakano-Shimbashi apartment building
Open House developing condominium in Arakawa-ku
Morgan Stanley wholly owns large Minato-Mirai office building
B-Lot's SPC acquires two properties including Sapporo retail facility
Ichigo subsidiary acquires Shirokane-Takanawa apartment building
Self-storage operator Palma sells facility in Ota-ku
Retail building in Ota-ku changes hands
Loadstar Capital flips office building in Takadanobaba, Shinjuku-ku
Sun Frontier sells building in Akihabara vicinity

PROJECTS

More
Open House developing condominium in Arakawa-ku
Parco to develop 160-unit rental apartment in Yokohama
Hulic to build data center in Nihombashi-Kobunacho
Keikyu Real Estate developing apartment in Koto-ku
Toyosu Block 4-2 Development Project to have 136,000m2 GFA
Hulic to construct 13,000 m2 GFA mixed-use building in Toranomon
Fujiken developing apartment building Oji, Kita-ku
Keio Corp, JR East constructing mixed-use buildings near Shinjuku Station
As Partners developing nursing home in Narashino City, Chiba
Cosmos Initia secures apartment development site in Itabashi

TENANTS

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Deutsche Bank moving into Toranomon-Azabudai Project completed in 2023
Public utility foundation relocating to Sapia Tower beside Tokyo Station
Software developer Tenda leasing at WeWork in Ikebukuro and Shibuya
Netyear Group scaling down HQ office space in Ginza
Global Solution Services moving to Loop-X Building
Colliers to relocate to Marunouchi Nijubashi Building, expand office
Nexer moving into Rise Arena Building in Ikebukuro
Jtower moving to Hulic's Aoyama building, doubling office space
Sony moving from Shinagawa Seaside TS Tower to Yokohama Grangate
GLP Japan moving to Tokyo Midtown Yaesu

STATS

More
Loan balance to real estate industry reaches record Y112tn
Japan drops two ranks to 16th in RE transparency: JLL
COVID-19 affects asset types differently: Daiwa Real Estate Appraisal
BOJ survey indicates business conditions declining due to coronavirus
Loans to real estate exceed Y100tn for first time
Loans to real estate reach Y99tn as capital demand remains avid
Loans for individuals decreased 20% and for real estate reach turning point
J-REIT market exceeds Y20tn: ARES
No celebration despite Japan rising to 14th in RE transparency: JLL
Loans to real estate hits highest ever at Y97tn; momentum likely to peak out

NIKKEI.com

More
Nintendo heirs eye Kyoto revitalization project around HQ-turned-hotel
Hoshino Resorts to open Japan-style hot springs in North America
Blackstone homes in on Asia as it nears $1tn asset target: COO
Hulic to build luxury 'ryokan'-style inn in Ginza
NTT ties up with Australian fund Macquarie in data center investment
Vietnam developer and Sumitomo Corp step up supermarket openings
Goldman to flip apartments in Japan with Sojitz, spending $400m a year
Japan's land prices see first rise in two years in COVID recovery
Hyatt Regency Tokyo for sale by Odakyu, seeking $870m in deal
Hotel Okura plans new outlet in central Bangkok in 2025

Most Read Articles

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Morgan Stanley wholly owns large Minato-Mirai office building
JRE REIT to sell Harumi Center Building for Y24.3bn
Creal acquires newly built Nakano-Shimbashi apartment building
B-Lot's SPC acquires two properties including Sapporo retail facility
Keio Corp, JR East constructing mixed-use buildings near Shinjuku Station
Loadstar Capital flips office building in Takadanobaba, Shinjuku-ku
Self-storage operator Palma sells facility in Ota-ku
Open House developing condominium in Arakawa-ku
Ichigo subsidiary acquires Shirokane-Takanawa apartment building
Morinaga sells half of Morinaga Plaza Building to Mitsui
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Latest NewsView all

JRE REIT to sell Harumi Center Building for Y24.3bn
Creal acquires newly built Nakano-Shimbashi apartment building
Open House developing condominium in Arakawa-ku
Morgan Stanley wholly owns large Minato-Mirai office building
B-Lot's SPC acquires two properties including Sapporo retail facility
Ichigo subsidiary acquires Shirokane-Takanawa apartment building
Self-storage operator Palma sells facility in Ota-ku
Deutsche Bank moving into Toranomon-Azabudai Project completed in 2023
Retail building in Ota-ku changes hands
Loadstar Capital flips office building in Takadanobaba, Shinjuku-ku

Editors' Pick

M&G acquires Y50bn worth of rental apartments from Blackstone
Kansai Electric subsidiary selling 208 housing lots near Sydney
Morgan Stanley sells large Ariake office building
Haseko Corp invests in Sumitomo Forestry’s private U.S. fund
Tokyu Group to develop hotel condominium in Senagajima, Okinawa
Blackstone homes in on Asia as it nears $1tn asset target: COO
Hulic to build Ginza mixed-use building with hot spring inn
Hulic, Shimizu selected as Shibuya district development project developers
Apa Group to acquire hotel in Calgary, Canada
Daiwa House to develop rental apartment in Maryland
Hines acquires logistics facility in Yatomi City, Aichi Prefecture
NTT ties up with Australian fund Macquarie in data center investment
CBRE IM developing logistics facility in Konan, Shiga Prefecture

MORE SURVEYS AND ANALYSIS

CLOSING RENT SURVEY Our proprietary survey of closing rents for rental office buildings in Tokyo and Yokohama.
RETAIL RENT SURVEY Advertised rents and vacancies on major shopping streets in Ginza, Omotesando, Shinjuku, etc.
PROJECT MAP A map and list of the 100 large-scale office building development projects currently in progress in Tokyo.
OFFICE CAP RATES Quarterly cap rate survey on office building transactions, based on our proprietary estimation
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