KKR nears deal to buy Hyatt Regency Tokyo

Odakyu Electric Railway is in talks to sell its Hyatt Regency Tokyo hotel to U.S. private equity firm KKR, Nikkei has learned, as the Japanese railway operator reevaluates its asset holdings amid the protracted coronavirus pandemic.

Hulic acquires Ginza building

Hulic acquired an office and retail building in Ginza, Chuo-ku. The sellers were...

Mitsui to develop six logistics properties

Mitsui Fudosan will develop six new logistics facilities in and outside Japan from 2023 onward. The number of logistics facilities developed by the company including the above will reach...

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.

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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.
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