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Hulic Reit completes ¥18.5B Tokyo office acquisition

Diversified real estate investment trust Hulic Reit Inc. completed the acquisition of an office property in Tokyo for ¥18.5 billion.

The Hulic Kamiyacho Building in Minato-ku was sold by company affiliate Hulic Co. Ltd.

The property spans roughly 39,855 square meters.

The acquisition was agreed Oct. 12 as part of a three-property deal. The acquisitions of the other two office buildings, also in Tokyo, are expected to close Nov. 1.

As of Oct. 15, US$1 was equivalent to ¥111.89.