trending Market Intelligence /marketintelligence/en/news-insights/trending/f5lhz-byz6vboey5kcbzpw2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Merger of 3 J-REIT managers to create ¥600B entity

Municipal-Run Fiber Tops 280000 Subscribers In 2018

The Essential Conference 2019 Highlight Reel

Mobile Payment Apps Driving Fintech Frenzy In India

Street Talk Episode 42: Banks losing consumer deposits to fintech, digital platforms, commercial might be next


Merger of 3 J-REIT managers to create ¥600B entity

ActiviaProperties Inc. said that it and Comforia Residential REIT Inc.'s asset managers agreedto merge in a deal that will create an entity with more than ¥600 billion inassets under management.

The merger and acquisition agreement will combine TLCActivia Investment Management Inc., TLC Comforia Investment Management Inc. andTokyu Land Capital Management Inc. TLC Comforia previously agreed on anabsorption-type split with Tokyu Land, which was completed Sept. 29. Tokyu Landis the manager of Broadia Private REIT Inc.

TLC Comforia will be the surviving entity in the merger, andit will be renamed TLC REIT Management Inc., effective April 1, 2017, accordingto a filing.

The asset managers expect the reorganization to boost TLCREIT Management's market exposure and give way to more property acquisitionopportunities.

To prevent conflicts of interests, TLC REIT Management alsodevised a proposed order of prioritized consideration when it comes to propertyacquisitions. Under the order, Activia Properties will have first dibs onoffice and retail properties, Comforia Residential will be prioritized forrental residences and serviced rental residences, and Broadia Private REIT willget sole consideration for logistics properties.

TLC Activia's shareholders will convene Nov. 1 to vote onthe merger, which is expected to be completed April 1, 2017. Because theagreement is for an absorption-type merger, TLC REIT Management does not haveto allocate shares as consideration.  

As of Sept. 29, US$1was equivalent to ¥101.59.