Last Update: 06/23 2021 14:00 JST

Industry Trends

Most current topics on company strategies, policies, technologies, etc.

Starwood’s TOB for Invesco REIT fails

The U.S.’s Starwood Capital Group’s take-over-bid (TOB) targeting Invesco Office J-REIT failed, the two announced.

Singapore’s Genting consortium applied to Yokohama’s IR open call

Resort and casino operator Genting Singapore announced that it applied to the city of Yokohama’s open call for integrated resort (IR) developers. Having formed a consortium with Sega Sammy...

Misawa Homes’ first overseas rental apartment complex near Denver

Major house builder Misawa Homes will participate in the development of a rental apartment complex near Denver, Colorado, U.S. This is its first involvement in an apartment complex project overseas.

Sotetsu Hotel Development to open first Thailand hotel

Yokohama City based Sotetsu Hotel Development in the Sotetsu Group will open a hotel for which it will be directly entrusted with the operation of in Bangkok, Thailand in spring 2024. This will be the first time for the company to open a hotel in Thailand.

Mitsubishi, Tokyo Century to fund U.S. data center development

Mitsubishi Estate and Tokyo Century revealed that they will participate in data center development in Loudoun County, Virginia, U.S. This will be both companies’ first data center development in the U.S.

Tokaido REIT to list in June with Y30.3bn AUM

Tokaido REIT obtained approval for listing from the Tokyo Stock Exchange on May 14. As the name implies, this REIT will invest heavily in the Tokaido region, especially in industrial region centered on Shizuoka (Shizuoka, Aichi and Mie prefectures). The REIT will be listed...

Sotetsu, Mercuria Investment to join Thailand condominium development project

Yokohama City based Sotetsu Real Estate, which is a unit of the Sotetsu Group, and Chiyoda-ku based Mercuria Investment will participate in a for-sale condominium development project in Bangkok, Thailand.

Invesco REIT and sponsor oppose TOB by Starwood

Invesco Office J-REIT announced that it opposes the take-over-bid (TOB) by the Starwood Capital Group. It also requested that its sponsor Invesco Group purchase additional investment units to compete with Starwood.

JR East establishes asset manager with eye on REIT

East Japan Railway (JR East) established Chiyoda-ku-based JR East Real Estate Asset Management together with its subsidiary and Mizuho Financial Group.

Japan Metropolitan Fund to acquire private REIT investment units

Japan Metropolitan Fund will acquire the investment units of Nisshin Private Residential REIT (NSPR).

Sumitomo Forestry and others to develop Seattle suburb residences

Sumitomo Forestry, Osaka City-based Kanden Realty & Development and Chiyoda-ku-based Sankei Building started a project to develop rental apartment buildings near Seattle, Washington, U.S.

Nippon Steel Kowa to enter student housing business

Minato-ku based Nippon Steel Kowa Real Estate will enter the student housing business. The brand name will be “Livio Seison,” and the company will complete two facilities in February 2022 and commence operations in April 2022.

MUFG to rebuild Marunouchi headquarters to consolidate offices

Mitsubishi UFJ Financial Group (MUFG) centering on MUFG Bank will rebuild MUFG Bank Head Office in Marunouchi, Chiyoda-ku, aiming to reduce costs by consolidating its banking, trust and securities headquarters functions currently spread across nine buildings in the Marunouchi and Otemachi area.

Invesco REIT stays quiet on TOB by Starwood

Invesco Office J-REIT decided to reserve its opinion on the take-over-bid (TOB) by the Starwood Capital Group at this time. At the same time, the REIT established a special committee that is independent from both its asset manager Invesco Global Real Estate Asia Pacific and Starwood who set up the TOB.

Diamond Realty Management creates separate account for Mizuho Leasing

Chiyoda-ku based Diamond Realty Management (DREAM), which is a subsidiary of trading firm Mitsubishi Corporation, created a separate account for Mizuho Leasing Company. It will invest in real estate development businesses in the U.S.

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.”

Sun Frontier to open day of the week-based offices

Real estate company Sun Frontier Fudousan will open multiple day of the week-based serviced offices in Tokyo under the brand “Week.” It operates two locations, Shiba-Daimon and Yotsuya. Due to the favorable response, it plans to open a location in Nogizaka, Higashi-Nihombashi and Kanda.

Mitsubishi and Tokyo Century to acquire hotel for Y56bn

Mitsubishi Estate and Tokyo Century, which is an affiliate of trading firm Itochu, announced that they will jointly acquire the hotel and hall spaces of Torch Tower, which is scheduled to be completed in fiscal 2027.

LaSalle Logiport to indirectly invest in Osaka area development

LaSalle Logiport REIT decided to acquire preferred equity securities of Kansai 1 Property TMK, which is a special purpose company developing a logistics facility in Osaka City.

Genkai Capital invests in Indian for-sale condo project

Fukuoka City's Genkai Capital Management invested in the Indian for-sale condominium project Inseli Park. The investment was made through Genkai India Investment (GII), which is Genkai Capital's investment fund targeting India. This is the company's fourth project through the fund.

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