Industry Trends
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. ≫
MORE NEWS FOR THIS CATEGORY
- PGIM to acquire four residences for Y9.2bn
- Mitsubishi to make JRE AM wholly-owned subsidiary
- Sumitomo Corporation’s PREX series to reduce tenant construction burden
- Kozo Hiratani to oversee Japan business of Grosvenor
- Shizuoka’s Yoshicon to establish Tokaido REIT
- Ivanhoé Cambridge and PAG establish logistics JV
- GLP fund to increase AUM by $2.8bn through second close
- Samty to build high-rise residences in Vietnam for Y35bn
- Open call started for Minato Mirai Block 52 developers
- Mitsui to make TOB for Tokyo Dome
- Bridge C Capital renovating hostel closed due to Covid-19
- Two NTT Urban subsidiary asset managers to merge
- Sumitomo Mitsui Finance to make up to Y132bn TOB for Kenedix
- Mitsubishi starts constructing office building in Barcelona
- TIAA's real estate arm opens base in Tokyo
- Aqua Resort to acquire Bestland aiming to expand business
- Yukihiro Ogasawara from CBRE appointed chairman of Colliers Japan
- Daito Trust Construction to enter investment apartment business
- GPIF seeks investment methods from private sector
- Tokyu Corp, NTT Urban developing for-sale condominium in Vietnam
- Leopalace to resolve insolvency with U.S.’s Fortress support
- United Urban confirms successor tenant for hotel
- NTT Urban becomes sole sponsor of Premier REIT
- United Urban to terminate hotel operator lease agreement
- Daiwa House and Nishi-Nippon Railroad to build Houston high-rise apartment
- Germany’s Allianz to acquire 18 residential buildings from Ichigo
- Akarui Mirai Asset forms Japan’s first nursery school fund
- JRF and MCUBS MidCity to merge into diversified REIT
- Daiwa House considering establishment of Y300bn logistics fund
- Daiwa House developing mixed-use for-sale condo in New York City
