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MORI TRUST to pay ¥8.1B for Tokyo office building

MORI TRUST Sogo Reit Inc. agreed to acquire the Hiroo SK Building medium-scale office property in Tokyo from Godo Kaisha PR First for ¥8.10 billion.

The 87%-occupied building has a total rentable area of 4,945.31 square meters. It has seven floors above the ground and one basement level with a total floor area of more than 2,000 tsubo.

Mori Trust will finance the acquisition using its own funds and loans.

The acquisition is slated for Jan. 19, 2018.

As of Dec. 22, US$1 was equivalent to ¥113.34.