Invesco Office J-REIT Inc. agreed to sell the Sendai Honcho Building in Japan for a combined price of ¥6.13 billion, excluding transaction-related costs and other charges.
The office real estate investment trust expects to dispose of a 40% stake in the property April 18 and the remaining 60% stake May 17. It will dole out the proceeds equivalent to the gain on sale to unit holders as cash distributions.
As such, the company in a separate release further revised its projected per-unit distributions for the fiscal period ending April 30 to ¥391 from an earlier estimate of ¥363.
Invesco Office also agreed to acquire the IBF Planning Building from Godo Kaisha KRF70 for ¥3.50 billion, excluding transaction-related costs and other charges. The transaction is scheduled to close May 18.
As of March 14, US$1 was equivalent to ¥106.17.
