Former Hotel Grand Palace site to be redeveloped
Five companies, namely Hotel Grand Palace which is a hotel operator of Chiyoda-ku, Mitsubishi Estate, Mitsubishi Estate Residence of Chiyoda-ku, Hankyu Hanshin Properties of Osaka City and movie theater producer Toho, signed a basic agreement on the effective utilization plan for the former site of Hotel Grand Palace. ≫
H2O Retailing gaining Y8.5bn from sale of land in Suita City
H2O Retailing, which has Hankyu Hanshin Department Stores and other subsidiaries under its umbrella, will sell 10,905 m2 of land, which is the site of a distribution center in Esakacho, Suita City, Osaka Prefecture. The company expects a profit of 8.5 billion yen [$74 million] from the sale. ≫
Osaka Hommachi office building sold
It has come to light that an office property in Chuo-ku, Osaka City, was sold. The seller was... ≫
MUFG Bank subsidiary moving out of Harumi Front
Mitsubishi UFJ Information Technology, which develops systems for MUFG Bank and other clients, will relocate its headquarters from Harumi Front in Harumi, Chuo-ku, according to sources. The company will return all of the building's office floors from the third floor to the 16th floor with an estimated floor area of 9,000 tsubos to 10,000 tsubos [29,800 m2 to 33,100 m2]. ≫
NTT UD REIT to shuffle assets worth Y40bn
NTT UD REIT (formerly Premier REIT) will replace assets totaling 40 billion yen [$350 million]. It will acquire part of a building in Nishi-Shinjuku, Shinjuku-ku, for 22 billion yen [$190 million]. Then, it will sell its quasi co-ownership interest in a building in Higashi-Shinagawa, Shinagawa-ku for 18 billion yen [$160 million]. ≫
Sekisui House REIT acquiring additional Akasaka Garden City ownership
Sekisui House REIT will additionally acquire part of Akasaka Garden City in Akasaka, Minato-ku. The seller is a special purpose company of Sekisui House, which is the sponsor. ≫
Hankyu Hanshin REIT reshuffling assets worth Y15.2bn in total
Hankyu Hanshin REIT will acquire a retail facility in Minami-Aoyama, Minato-ku. The acquisition price is 6.65 billion yen [$58 million]. Meanwhile, the REIT will sell 33% quasi co-ownership in an office building in Higashi-Shinagawa, Shinagawa-ku for 8.6 billion yen [$75 million]. ≫
Blackstone acquires building in Nihombashi-Hisamatsucho
JMOP Two Holding TMK, a special purpose company believed to be affiliated with The Blackstone Group, acquired an office and retail building in Nihombashi-Hisamatsucho, Chuo-ku. The seller was... ≫
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WHAT'S IN THE MONTHLY REPORT: OCTOBER 2021
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