Tokyo Commodity Exchange to be demolished

Demolition of former Tokyo Commodity Exchange Building in Nihonbashi-Horidomecho starts this month. The building is just 24 years old.Read more

Expected yields on Japanese real estate remain at historic lows

Despite the turmoil happening in some overseas commercial real estate sectors, investors in Japanese real estate continue to anticipate record-low yields. That may be due in part to low interest rates which make it one of the few places with a positive yield spread over government bonds. The latest investor survey by the Japan Real Estate Institute in April shows expected yields have either remained the same or dropped, depending on the asset class and location.Read more

Government approves 11ha Shinagawa redevelopment

The proposed redevelopment of the Grand Prince Hotel in Shinagawa is progressing with the Minister of Land, Infrastructure, and Transport issuing project approval on June 1.Read more

Rihga Royal Hotel Kyoto changes hands in May

Kyoto hotels are back on the radar for major real estate firms and investors, as the historic former capital recovers from the pandemic. Last month, Mori Trust acquired the Rihga Royal Hotel Kyoto from Fortress Investment Group for an undisclosed price.Read more

Record high number of listed companies dispose of real estate in 2022

Of the 3,803 TSE listed companies, 114 reported the sale of real estate assets in the 2022 fiscal year, according to Tokyo Shoko Research. This is the highest number seen since 2007. In the late 1990s and early 2000s, the typical annual number ranged from 150 to 230 companies.

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Bulgari Hotel Tokyo opens

The Bulgari Hotel Tokyo officially opened on April 4, marking the hotelier’s first foray into Japan and the 8th Bulgari-branded hotel globally.Read more

Three hotels sold by Hokkaido hotelier

Mail-order company Belluna has emerged as the buyer of two hotels in Hokkaido from Karakami Hotels & Resorts for an undisclosed price. Karakami will stay on as the operator of the hotels.

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Buyer in talks to buy Kiroro Resort

Shanghai Yuyuan Tourist Mart Co. has expressed interest in purchasing Kiroro Snow World, Kiroro Resort, its land, two hotels, onsen, and golf course through an 11 billion Yen (US$81.5 million) corporate acquisition of Napier SPC.

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REIT acquires partial ownership in ARGYLE aoyama

A 50% quasi co-ownership share in the ARGYLE aoyama on the corner of Aoyama and Gaien-Nishi streets in central Tokyo has been acquired by the Japan Real Estate REIT for 23.9 billion Yen (approx. US$175 million). The building is fully leased and the cap rate is 2.9%.

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Roppongi Hills' high-rise neighbor one step closer to construction

On February 15, the Tokyo Metropolitan Government approved the land rights conversion plan for the Nishiazabu 3 Chome North-East District Redevelopment. This project will see a 54-story mixed-use high-rise built on a 1.6-hectare block across the street from Roppongi Hills.

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