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Kenedix board OKs ¥12.1B sale of 5 residential assets in Tokyo

Kenedix Inc.'s board approved a resolution selling trust beneficiary rights in five residential properties in Tokyo's Ota-ku, Kita-ku, Koto-ku and Taito-ku areas for a total of roughly ¥12.14 billion.

The diversified real estate company said it has yet to receive the consent of the purchasers, adding that it plans to invest in the buyers and manage the operations of the five properties.

Settlements of the transactions for the properties will take place Feb. 28, Nov. 29 and April 28, 2020.

As of Jan. 10, US$1 was equivalent to ¥108.30.