NIKKEI REAL ESTATE MARKET REPORT

Last Update: 04/09 2021 11:30 JST
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Kenedix Retail REIT to acquire four properties for Y22.3bn

Kenedix Retail REIT will acquire four properties including a retail facility in Chofu City, Tokyo, for a total of approximately 22.34 billion yen [$200 million]. It will also sell a part of a retail facility in Inamachi, Saitama Prefecture. ≫

Cosmos Initia sells Osaka Hommachi apartment

Condominium developer Cosmos Initia sold a rental apartment building in Itachibori, Nishi-ku, Osaka City. ≫

B-Lot acquires apartment building near Tokyo Medical University in Shinjuku

Real estate company B-Lot acquired a rental apartment building in Tomihisacho, Shinjuku-ku. The company plans to... ≫

Apa acquiring hotel in Osaka’s Shinsaibashi

Hotel chain operator Apa Group decided to purchase a hotel in Chuo-ku, Osaka City. The seller is Nishi-Nippon Railroad (Nishitetsu). ≫

Japan Post subsidiary acquires apartment building in Kiba, Koto-ku

Chiyoda-ku-based Japan Post Real Estate acquired a rental apartment building in Kiba, Koto-ku. The company plans to... ≫

Starwood to conduct TOB for Invesco Office J-REIT

Starwood Capital Group of the U.S. announced that it will conduct a take-over-bid (TOB) targeting Invesco Office J-REIT. The REIT remained undecided by saying “it was made unilaterally and suddenly, with no prior notification.” ≫

LATEST NEWSMore

April 2021, Issue 141
Kenedix Retail REIT to acquire four properties for Y22.3bn
Cosmos Initia sells Osaka Hommachi apartment
SMBC affiliate developing mixed-use building in Nakano-ku
City Homes sells new retail building in Sasazuka, Shibuya-ku
B-Lot acquires apartment building near Tokyo Medical University in Shinjuku
Bunkyo-ku apartment development site sold
E-commerce website operator Crooz moving to Ebisu SS Building
Chuo-Nittochi to build mid-size Revzo brand Ichibancho office building
Apa acquiring hotel in Osaka’s Shinsaibashi

WHAT'S IN THE MONTHLY REPORT: APRIL 2021

Past Monthly Reports
cover image
Analysis

Vacancy Nightmare to Be Avoided

Floor reductions due to telework, but forecast of limited impact
Due to the spread of telework, some companies have started to reduce leased office area. In order to investigate the impact on the rental office market, Nikkei Real Estate Market Report estimated the vacancy rate and advertised rent for the next three years with the cooperation of Commercial Property Research Institute. As a result, even the maximum vacancy rate will be 6.2%. Although the rent will be bearish, it seems that a significant fluctuation causing market congestion can be avoided. ≫
Occupier Market | Deals Roundup | Relocation Update | News Digest

TRENDS

More
Starwood to conduct TOB for Invesco Office J-REIT
Sun Frontier to open day of the week-based offices
Mitsubishi and Tokyo Century to acquire hotel for Y56bn
LaSalle Logiport to indirectly invest in Osaka area development
Genkai Capital invests in Indian for-sale condo project
PGIM to acquire four residences for Y9.2bn
Mitsubishi to make JRE AM wholly-owned subsidiary
Sumitomo Corporation’s PREX series to reduce tenant construction burden
Kozo Hiratani to oversee Japan business of Grosvenor
Shizuoka’s Yoshicon to establish Tokaido REIT

DEALS

More
Kenedix Retail REIT to acquire four properties for Y22.3bn
Cosmos Initia sells Osaka Hommachi apartment
City Homes sells new retail building in Sasazuka, Shibuya-ku
B-Lot acquires apartment building near Tokyo Medical University in Shinjuku
Bunkyo-ku apartment development site sold
Apa acquiring hotel in Osaka’s Shinsaibashi
Daiwa House sells 400 m2 of land in Gotanda
Daikyo developing apartment building in Taito-ku
FPG acquires retail building in Tenjin, Fukuoka
Japan Post subsidiary acquires apartment building in Kiba, Koto-ku

PROJECTS

More
SMBC affiliate developing mixed-use building in Nakano-ku
Bunkyo-ku apartment development site sold
Chuo-Nittochi to build mid-size Revzo brand Ichibancho office building
Daikyo developing apartment building in Taito-ku
Clearth Life developing condominium in Azabu
Land near Nishi-Shinjuku-Gochome Station sold
Taisei-Yuraku developing logistics facility in Kashiwa City, Chiba
Hankyu Hanshin Properties developing apartment building in Koto-ku
Mitsubishi and Kajima to construct Hilton hotel in Miyakojima
Daikyo to construct apartment building in Minato, Chuo-ku

TENANTS

More
E-commerce website operator Crooz moving to Ebisu SS Building
Aizawa Securities moving to Tokyo Shiodome Building
Yamada Denki to depart Shinbashi Ekimae MTR Building
Enabler relocating to WeWork in Kamiyacho
Recruit leasing Kudanzakaue KS Building in its entirety
Deloitte Tohmatsu to reduce Tokyo headquarters office area
Payment services provider Metaps relocating to WeWork in Shibuya
M&A broker Strike moving to Mitsui & Co. Building, expanding office
First domestic JustCo co-working office to open in Shibuya Hikarie
Patent professional business moving to Hamamatsucho WTC South

STATS

More
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
Loans to real estate continues to increase, balance at almost Y95tn

NIKKEI.com

More
Mitsubishi to sell Nagoya high-rise to Canada's BGO
Kintetsu to sell 8 hotels to Blackstone for $550m
Tokyo's famed Imperial Hotel to undergo $2bn teardown and makeover
How Japan's builders absorbed the lessons of the 2011 earthquake
Dai-ichi Life targets 30% cut in portfolio CO2 emissions by 2025
Japan entices global funds hungry for pandemic spinoffs
Tokyo's Imperial Hotel repurposes luxury rooms as rentals
Ad agency Dentsu weighs sale of Tokyo HQ in $3bn megadeal
Japan developers go green at Tokyo office buildings

Most Read Articles

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Starwood to conduct TOB for Invesco Office J-REIT
Shin-Nihon Tatemono sells new apartment building in Ueno vicinity
Lawson Bank setting up head office in ThinkPark Tower in Osaki, Shinagawa-ku
Retail and office building in Shibuya-ku changed hands
City Homes sells new retail building in Sasazuka, Shibuya-ku
Kenedix Retail REIT to acquire four properties for Y22.3bn
3D design firm relocating Tokyo Office to Shinagawa-ku building
Prologis developing three logistics facilities with 140,000 m2 GFA
Genkai Capital invests in India condominium projects
Prologis REIT to acquire three properties for Y62.2bn
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Latest NewsView all

April 2021, Issue 141
Kenedix Retail REIT to acquire four properties for Y22.3bn
Cosmos Initia sells Osaka Hommachi apartment
SMBC affiliate developing mixed-use building in Nakano-ku
City Homes sells new retail building in Sasazuka, Shibuya-ku
B-Lot acquires apartment building near Tokyo Medical University in Shinjuku
Bunkyo-ku apartment development site sold
E-commerce website operator Crooz moving to Ebisu SS Building
Chuo-Nittochi to build mid-size Revzo brand Ichibancho office building
Apa acquiring hotel in Osaka’s Shinsaibashi

Editors' Pick

Sumitomo developing 32,500m2 GFA office building in Roppongi
Singapore’s TE Capital acquires three Tokyo properties
Mori Hills REIT to acquire additional interest in Toranomon Hills
Japan entices global funds hungry for pandemic spinoffs
Sumitomo acquires building near Shibaura-Futo Station in Minato-ku
Fujita Kanko to sell Taiko-En in Osaka for Y39bn
Tokyu Land to construct 22,000 m2 mixed-use building in Daikanyama
NTT Urban group selected for Tamachi Campus redevelopment
Mitsui to develop 10,000m2 GFA building in Shiba, Minato-ku
Gas station operator purchases Fukuoka hotel from Goldman Sachs
CBRE GI acquires two logistics facilities in Saitama Prefecture
Residential properties acquired by Allianz partially revealed
Tokyo's Imperial Hotel repurposes luxury rooms as rentals

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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