Industry Trends
SESC recommends administrative dispositions against Es-Con Asset Management
The Securities and Exchange Surveillance Commission (SESC) recommended to the Prime Minister and the Commissioner of the Financial Services Agency that administrative dispositions be conducted against Minato-ku-based Es-Con Asset Management, the asset manager of Escon Japan REIT, stating that there was... ≫
AIC expands business by joining Watahan group
Shinjuku-ku-based AIC, which handles management and sales transaction of real estate, has joined the Watahan group. Watahan & Co., the group’s holding company, acquired all of AIC’s shares, making it a consolidated subsidiary. ≫
FPG to launch U.S. real estate collective investment business
Financial Products Group (FPG) will begin a collective investment business in U.S. real estate targeting domestic small and medium-sized companies as clients. It plans to develop this into its third pillar of business following its mainstays, a leasing fund business and a real estate fund business. Soliciting for investors of the first project will begin in June 2022. ≫
Mitsui & Co., Japan Post Insurance to partner in real estate investment
Trading firm Mitsui & Co. and Japan Post Insurance (Kampo Seimei Hoken) announced that they will collaborate in the asset management business of real estate and other assets. They will establish a new company invested in by both companies and accelerate real estate investment. ≫
Condo developer Ascot launches first private fund for overseas investors
Shibuya-ku-based Ascot, which is engaged in real estate development, recently began operating its first private fund. The fund is a joint venture with verseas institutional investors. Its portfolio contains... ≫
Three Japanese companies acquire rental residence in Seattle
Osaka City based Kanden Realty & Development, Osaka City based Hankyu Hanshin Properties and Chuo-ku, Tokyo based Daiwa Securities Realty acquired a rental residence in Seattle, Washington. It is a joint business with... ≫
Grit subsidiary Liv-up acquires Universal Trust
Tokyo Pro Market-listed real estate company Liv-up acquired 51% of Chiyoda-ku-based apartment developer Universal Trust’s outstanding shares. The company will acquire all shares by October, making it a wholly owned subsidiary. ≫
Diamond Realty Management closes eighth mezzanine fund
Chiyoda-ku based Diamond Realty Management (DREAM) completed the fundraising for Dream Mezzanine Debt Fund 8. This is the eighth private fund specializing... ≫
JR West establishes private fund, eyes establishment of REIT
West Japan Railway (JR West) established GK JR West Fund No. 2, which is a private real estate fund with an AUM of approximately 14 billion yen [$110 million]. ≫
Kansai Electric subsidiary selling 208 housing lots near Sydney
Kanden Realty & Development joined residential site development project near Sydney, through its Australian subsidiary Kanden Realty & Development Australia. ≫
Haseko Corp invests in Sumitomo Forestry’s private U.S. fund
Haseko Corporation, a general contractor and condominium developer, invested in a private U.S. real estate development fund which takes the environment, society and governance (ESG) into consideration that was formed by Sumitomo Forestry and Sumitomo Forestry’s North Carolina-based subsidiary Crescent Communities. ≫
Apa Group to acquire hotel in Calgary, Canada
Minato-ku based Apa Group, which operates Apa Hotels, will acquire Regency Suites Hotel in Calgary, Alberta, through its Canadian subsidiary Apa Hotel Canada based in Vancouver, British Columbia. ≫
Daiwa House to develop rental apartment in Maryland
Daiwa House Industry started construction of St. Elmo Project, a rental apartment in Bethesda, Maryland, through its U.S. subsidiary Daiwa House Texas. ≫
KKR to acquire Mitsubishi Corp. - UBS Realty for Y230bn
Kohlberg Kravis Roberts (KKR), a major U.S. investment firm, will acquire all shares of Mitsubishi Corp. - UBS Realty (MC-UBSR), the asset manager of listed REITs Japan Metropolitan Fund (JMF) and Industrial & Infrastructure Fund (IIF). Made through an affiliate, the transaction price is 230 billion yen [$1.9 billion]. ≫
SMFL Mirai Partners and Kenedix make joint Singapore investment
Chiyoda-ku based SMFL Mirai Partners, which is a consolidated subsidiary of Sumitomo Mitsui Finance and Leasing, and Chiyoda-ku based Kenedix acquired 50% ownership interest in a mixed-use office building in Singapore, together with ARA Asset Management based in Singapore. ≫
Mori Trust acquires office buildings in Virginia, U.S.
Mori Trust acquired two office buildings in the northern part of Virginia through Mori America, which is its U.S. subsidiary based in Wilmington, Delaware. ≫
Government to sell floors of Otemachi Place
Mizuho Trust & Banking issued a public notice for the bid of Otemachi Place in Otemachi, Chiyoda-ku. The floors owned by the government will be sold, and applications for participation in the bid will be accepted until April 22. ≫
Nippon Steel Kowa acquires 150 residential units in U.S.
Nippon Steel Kowa Real Estate acquired a rental apartment community in the suburbs of Scottsdale, Arizona, U.S. This is a joint venture with... ≫
GLP to invest over Y1tn in data center development in Japan
GLP Japan is entering the Japanese data center market, investing more than 1 trillion yen [$8.5 billion] in total in land, buildings, facilities and management to supply data centers in the Tokyo metropolitan area, Kinki region and other areas. ≫
Shinoken REIT postpones IPO due to deteriorating market
Shinoken Group announced that it would postpone the listing of Shinoken REIT. Though it was approved for listing by the Tokyo Stock Exchange (TSE) on February 2, it is revising its schedule due to changes in the external environment. ≫
MORE NEWS FOR THIS CATEGORY
- Tokyu Land acquires 108 residential units in California
- Haseko group launches private REIT
- Shinoken REIT for urban housing to list in March
- Itochu affiliated management companies to merge, establish private REIT
- NTT Urban acquires rental residence in Boston suburbs
- CPPIB to invest in Japan with Mitsubishi Estate
- JMF to increase private REIT ownership ratio to 17%
- Mitsui & Co. to secure data centers worth Y300bn
- Grit Partners acquires real estate company Liv-up
- Norinchukin Bank group to form private REIT
- Star Asia REIT to conduct sixth mezzanine loan investment
- JR Kyushu forms private REIT, commence operations next spring
- Diamond Realty Management forms U.S. logistics development fund
- APL receives Y3.6bn for energy-saving renovation
- Mitsui O.S.K. Lines to make TOB for Daibiru
- Fire at GLP J-REIT asset, impact on performance unclear (updated)
- Kasumigaseki Capital, Mitsubishi HC Capital jointly developing logistic facilities
- Sumitomo Forestry to develop 3,000 U.S. homes for rent
- Genkai Capital invests in India slum redevelopment project
- Mitsui & Co. sells California rental housing for $156mn
- Ryusuke Shigetomi appointed chairman of Blackstone’s Japanese arm
- Jon Tanaka to head up Hines investments in Japan
- Samty to form REIT specializing in hotels
- Keio Corp, Keio Reality to incentivize tenants along Keio Line
- Toden Real Estate to establish its first shared office
- Sumitomo Forestry and others to develop Seattle suburb apartment
- Japan Metropolitan Fund invests in mezzanine loan claim
- NTT Urban, Sumitomo Forestry developing Melbourne wooden office building
- Es-Con to invest $1mn in U.S. fund
- CapitaLand to invest Y100bn more in Japanese real estate
