Solar Ark sold to real estate company
Sanyo Electric, a subsidiary of Panasonic, has sold the Solar Ark in Gifu Prefecture to an Osaka-based real estate company. The banana-shaped building is a local landmark and easily visible from the Shinkansen train that passes nearby.
Listed companies offload real estate holdings in pandemic
A total of 76 companies listed on the Tokyo Stock Exchange reported the sale of real estate assets in 2020, up from 59 in 2019 and the first time to exceed 70 in four years. Total capital gains from the sales reached 441.6 billion Yen (approx. US$4 billion), the highest in 20 years.
Recruit sells Ginza HQ Building
Human resources giant Recruit Holdings has sold its headquarters in Ginza to Hulic for an undisclosed amount. Recruit plans to lease back the office building after the sale.
Quick real estate news summary for the week
Barneys closes Shinjuku store, ‘Himeji’s Trump’ real estate holdings hit with provisional administration order, and developer sells luxury rental apartment building in Tokyo. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Apparel company sells flagship Ginza building
On July 17, apparel giant Sanyo Shokai announced the sale of their flagship building in Ginza. Temporary store closures during the pandemic have hit the brick-and-mortar retail sector hard, with some cashing out of their real estate holdings to shore up cash reserves. Real estate developers are having a field day as struggling companies reach out to offload long-held and highly-prized assets.
House in Minami Aoyama sells for 3.8 billion Yen
Apparel company Onward Holdings has sold a company-owned house in Minami Aoyama for 3.81 billion Yen (approx. 36 million USD). The buyer was developer Tokyu Land.
5 billion Yen Toranomon penthouse rumored to have sold off-the-plan
A penthouse in Toranomon is rumored to have sold off-the-plan for 5 billion Yen (approximately 45 million USD), making it potentially one of the most expensive apartments to have sold in Japan. Naturally, details are sparse and unconfirmed.
Motoazabu house and land sells for 1.1 billion Yen
A house and land in Tokyo’s Motoazabu address sold for 1.16 billion Yen (approx. 10.5 million USD) at a public auction last month. The sale, conducted by Osaka City, attracted seven bidders, including one well-known developer. The City had set a reserve price of 673,261,700 Yen.Read more
Two floors in ARK Hills sell for 3 billion Yen
Two floors in ARK Mori Building - the office tower in the ARK Hills complex located in central Tokyo - have been acquired by Heiwa Real Estate REIT. Heiwa paid 3.085 billion Yen (approx. 29 million USD) for the trust beneficiary rights to the 30th and 31st floors from an unnamed seller.Read more
Tokyo Apartment Sales in March 2018
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2018:Read more