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Japan Retail Fund settles ¥14.9B property sale in Japan

Japan Retail Fund Investment Corp. completed the ¥14.90 billion divestment of its trust beneficiary right in a building in the Shinsaibashi district of Osaka in Japan.

The real estate investment trust sold the fully leased 8953 Osaka Shinsaibashi property to an unnamed buyer.

The roughly 13,667-square-meter property had an appraised value of ¥14.00 billion as of Aug. 31, 2018, according to an earlier announcement of the company.

As of Aug. 30, US$1 was equivalent to ¥106.22.