Land in Daikanyama sold for 7 billion Yen
On August 26, apparel company Onward Holdings announced the sale of two properties in Tokyo’s Minato and Shibuya wards.
Real estate investment drops 25% in first half of 2021 as supply shrinks
The total volume of commercial real estate investment across greater Tokyo in the first half of 2021 fell 25% from the same time last year as fewer deals were made available.
New office building for Omotesando
Construction has started on a 60-meter tall office building in Omotesando. The joint project by Mitsubishi Jisho and Goko is scheduled to be completed by February 2023.
Daikanyama retail sold for 4.2 billion Yen
Tokyu REIT has sold the trust beneficiary rights to the Daikanyama Forum retail complex in Shibuya for 4.25 billion Yen (approx. US$39 million). Information on the buyer has not been disclosed, but it is a domestic corporation.
European fund to invest 300 billion Yen in Japanese real estate
German-based Patrizia AG is planning to seriously invest in the Japanese real estate market, aiming to operate 300 billion Yen in assets over the next three to four years.
Nippon Express mulls sale of Shiodome office tower
Global logistics service company Nippon Express is mulling the sale of their head office building in Shiodome. The 28-story office tower could fetch as much as 100 billion Yen (approx. US$955 million). Several funds have already expressed interest.
Avex sells HQ building for 70 billion Yen
According to the Nikkei Shimbun, music and entertainment production company Avex is selling their headquarter building in Omotesando for an estimated 70 billion Yen (approx. US$675 million).