trending Market Intelligence /marketintelligence/en/news-insights/trending/pOKYbb0M3L0Z5j658x8CKg2 content esgSubNav
In This List

Mitsubishi Estate to acquire Tokyo property for ¥6.9B

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


Mitsubishi Estate to acquire Tokyo property for ¥6.9B

Mitsubishi Estate Co. Ltd. plans to acquire the Genki Medical Plaza in Chiyoda-ku, Tokyo, for ¥6.89 billion from Japan Real Estate Investment Corp.

In exchange, Mitsubishi Estate will sell a 3.6% stake in the Shinjuku Eastside Square property in Shinjuku-ku, Tokyo, to Japan Real Estate for ¥6.66 billion.

The Genki Medical Plaza, which Mitsubishi Estate bought in 2002, comprises 1,052.80 square meters of land area and a building area of 6,722.02 square meters. A sole tenant occupies the property's 4,791 square meters of leasable space. The cap rate for the transaction is 4.8%.

The Shinjuku Eastside Square development has a total land area of 25,320.28 square meters and 167,245.46 square meters of total building area. The property has full occupancy by way of 43 tenants spread over a total leasable space of 4,208 square meters. The cap rate of the transaction is 4.1%.

As of Dec. 15, US$1 was equivalent to ¥118.38.