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.