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Ichigo Office REIT to buy 2 Tokyo office assets for ¥6.10B

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Ichigo Office REIT to buy 2 Tokyo office assets for ¥6.10B

Ichigo Office REIT Investment Corp. is acquiring two office assets in Tokyo for ¥6.10 billion and selling two non-office assets for ¥3.60 billion.

The office real estate investment trust expects to acquire the approximately 4,500-square-meter Minami Otsuka Square building, to be renamed the Ichigo Minami Otsuka building, from a domestic special-purpose company for ¥2.78 billion on Dec. 21, and the roughly 3,159-square-meter Unizo Nogizaka building, to be renamed the Ichigo Nogizaka building, from a domestic real estate company for about ¥3.32 billion on Dec. 28.

Ichigo Office will also sell the approximately 2,530-square-meter Ichigo Machida East and the roughly 2,449-square-meter Ichigo Shin Yokohama Arena Dori retail buildings for ¥3.6 billion to a domestic real estate company on Dec. 20.

The company is increasing its operating revenue guidance for April 2019 by 11.5%, and its dividend by 12.2%, to account for the transactions.

As of Dec. 13, US$1 was equivalent to ¥113.67.