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MCUBS MidCity completes 2 Tokyo acquisitions

MCUBS MidCity Investment Corp. completed the acquisition of the two remaining properties from its four-property deal signed in January.

The SSP Building in Chuo-ku, Tokyo, was acquired for ¥9.20 billion and will be renamed Toyota Mobility Service Building, effective May 1.

The M-City Akasaka 1-chome Building in Minato-ku, Tokyo, was bought for about ¥4.21 billion.

In late January, the diversified real estate investment trust agreed to acquire four fully occupied commercial assets in Tokyo for a combined sum of ¥23.21 billion.

As of Feb. 28, US$1 was equivalent to ¥106.72.