Last Update: 01/21 2022 17:00 JST

Local City Trends

Property investment topics in major second-tier cities

GLP Japan to develop its second Hiroshima logistics facility

Minato-ku based GLP Japan started the development of GLP Hiroshima II, which will be its second logistics facility in Hiroshima Prefecture. The company will invest approximately 10 billion yen [$85 million] as the total development cost.

Open House disposes building beside Mikage Station in Kobe City

Chiyoda-ku's Open House Development sold an office and retail building in Mikage-Nakamachi, Higashinada-ku, Kobe City.

Kobe Sannomiya land changes hands

Koto-ku construction company Tada acquired a 305 m2 plot in Isogami-Dori, Chuo-ku, Kobe City, Hyogo Prefecture. The seller was...

Healthcare & Medical REIT to acquire 10 properties for Y11.4bn

Healthcare & Medical REIT, the sponsors of which include Ship Healthcare Holdings and NEC Capital Solutions, will acquire 10 properties including fee-based elderly nursing homes for an approximate total of 11.44 billion yen [$97 million].

Takara Leben REIT to sell three office buildings

REIT Takara Leben will sell three office buildings in Osaka City and Yamagata City. With these transactions, the REIT’s acquisition price-based AUM will be approximately 107.8 billion yen [$910 million].

Mitsui’s logistics REIT to acquire three properties for Y44.6bn

REIT Mitsui Fudosan Logistics Park (MFLP) will acquire three logistics facilities located in Yachiyo City, Chiba Prefecture, Osaka City, etc. for a total of 44. 6 billion yen [$380 million].

NBF to replace assets worth total of Y97.2bn

REIT Nippon Building Fund (NBF) will replace assets worth a total of 97.22 billion yen [$820 million]. With these transactions, the REIT’s acquisition price-based AUM will be approximately 1.44 trillion yen [$12 billion].

Otomo Logistics acquires Kobe City warehouse development site

Otomo Logistics Service of Koto-ku acquired 9,120 m2 of land in Kobe Techno Logistic Park in Mitsugaoka, Nishi-ku, Kobe City. The company will develop a logistics facility with approximately 18,000 m2 of gross floor area on the land.

Hankyu Hanshin REIT acquires Nishinomiya City distribution center site

Hankyu Hanshin REIT, which is sponsored by Hankyu Hanshin Properties, acquired the 7,005 m2 site of a distribution center in Nishinomiya City, Hyogo Prefecture. With this acquisition, the acquisition price-based AUM of the REIT increased to approximately 168.64 billion yen [$1.5 billion] in 32 properties.

Ooedo Onsen's spa facility REIT to sell Nagasaki hotel

Ooedo Onsen REIT will sell Ooedo-Onsen-Monogatari Nagasaki Hotel Seifu. With this transaction, the REIT’s acquisition price based AUM will be approximately 34.45 billion yen [$300 million] in 13 properties.

JPR to replace assets worth Y53.7bn in total

REIT Japan Prime Realty (JPR) decided to replace assets, acquiring three properties including Grand Front Osaka and on the other hand selling two buildings in Osaka City. With a total price of 53.7 billion yen [$460 million], this transaction will increase...

Logistics Fund to acquire warehouse in Amagasaki City, Hyogo

Japan Logistics Fund (JLF), a REIT affiliated with trading firm Mitsui & Co., will acquire a logistics facility in Amagasaki City, Hyogo Prefecture. With this transaction, the REIT’s acquisition price based AUM will be approximately 276.1 billion yen [$2.4 billion].

KKR makes first Japan property investment in Osaka office

Major U.S. investment company Kohlberg Kravis Roberts (KKR) acquired NLC Morinomiya Building, an office building in Joto-ku, Osaka City. This is the company’s first real estate investment in Japan.

Hong Kong's BPEA acquires Osaka Midosuji hotel for over Y10bn

Baring Private Equity Asia (BPEA) based in Hong Kong acquired a hotel with 306 guestrooms in Chuo-ku, Osaka City.

Sankei, Fuyo General Lease jointly developing office building in Fukuoka

Sankei Building and Fuyo General Lease, both based in Chiyoda-ku, will develop an office building in Tenyamachi, Hakata-ku, Fukuoka City through a special purpose company they jointly formed. Completion is targeted for February 2023.

Ardepro acquires Tokyo office building and Osaka apartment building

Real estate company Ardepro purchased an office building in Sugamo, Toshima-ku, Tokyo and an apartment building in Miyakojima-ku, Osaka City. The seller of both properties was...

Nishitetsu selling two hotels due to Covid-19 pandemic

Nishi-Nippon Railroad (Nishitetsu) decided to sell two hotels in Nishi-Kamata, Ota-ku, Tokyo and Nishiki, Naka-ku, Nagoya City.

Heiwa REIT to acquire three properties

Heiwa Real Estate REIT will acquire a total of three properties, two office buildings and an apartment building. With these transactions, the REIT’s acquisition price based AUM will be 198.79 billion yen [$1.7 billion].

H2O Retailing to gain Y3.3bn from Osaka land sale

H2O Retailing, which owns Hankyu Hanshin Department Stores, will sell a 4,004 m2 distribution center site in Fukushima-ku, Osaka City. Its expects a gain on sale of 3.3 billion yen [$28 million].

Mirai REIT to acquire four properties for Y10.6bn

Mirai REIT, which is affiliated with trading firm Mitsui & Co., will acquire a retail facility, an office building and two leased sites for a total of 10.65 billion yen [$92 million]. With these transactions, the REIT’s acquisition price based AUM will be approximately 164.55 billion yen [$1.4 billion].

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