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Heiwa Real Estate to buy 2 Tokyo office assets

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Heiwa Real Estate to buy 2 Tokyo office assets

Heiwa Real Estate REIT's asset manager, Heiwa Real Estate Asset Management Co. Ltd., agreed to buy trust beneficial interests in two fully leased office properties in Japan for a combined ¥3.74 billion.

Heiwa Real Estate Co. Ltd. will sell the interest in Itopia Nihonbashi SA Building in Chuo-Ku, Tokyo, for ¥2.14 billion on Aug. 31. Masuya Business Service Co. Ltd. will sell the interest in Southern Sky Tower Hachioji in Hachioji-City, Tokyo, for ¥1.60 billion on June 25.

The Japanese company plans to use its own funds and borrowings to settle the lump sum payment for the assets.

As of June 15, US$1 was equivalent to ¥110.52.