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Mitsui Fudosan to sell Tokyo office building for ¥9.78B to Nippon Building

Nippon Building Fund Inc. agreed to acquire Osaki Bright Plaza and an additional interest in Osaki Bright Core for a total of ¥9.78 billion from Mitsui Fudosan Co. Ltd.

SNL Image

Bright Core
Source: Nippon Building Fund Inc.

The Japan-based, office-focused real estate investment trust will complete the acquisition of the office and store assets in the Osaki area of Tokyo by March 30.

The 100% occupied properties — at 567-1, Kita-Shinagawa 5-chome, Shinagawa-ku, Tokyo — have a site area of about 5,811 square meters and total floor space of roughly 42,929 square meters.

The acquisition will be funded using existing capital and loans.

As of March 7, US$1 was equivalent to ¥106.17.

SNL Image

Bright Plaza
Source: Nippon Building Fund Inc.