Minamiaoyama land sold for 13 billion Yen
Meiji Jisho, a company affiliated with Cerberus Capital Management, has sold a 1,916 sqm block of land in Minamiaoyama 3 Chome to Shimizu Corporation. The deal is estimated to be around 13 billion Yen (6,785,000 Yen/sqm).
The land is currently a parking lot and fronts onto Aoyama Dori Avenue.
An adjoining 2,500 sqm site was sold by the Urban Renaissance Agency (UR) in March 2013 for 5.6 billion Yen (2,240,000 Yen/sqm). It was reported that the buyer was City Index Seven - related to the Murakami Fund. UR's landholding is more scattered with private roads and a smaller street frontage.