trending Market Intelligence /marketintelligence/en/news-insights/trending/s7d4feeyglnxj4_eqcggig2 content esgSubNav
In This List

Japan Excellent buys Tokyo building for ¥6.6B from Nippon Steel Kowa

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook


Japan Excellent buys Tokyo building for ¥6.6B from Nippon Steel Kowa

Real estate investment trust Japan Excellent Inc. bought a trust beneficiary interest in the Akasaka Intercity Air asset in Tokyo for ¥6.59 billion from Nippon Steel Kowa Real Estate Co. Ltd.

The office and retail building features 2,580.24 square meters of leasable space across 39 floors above ground, along with three basement levels, and is 98.46% occupied. The tower also contains an approximately 5,000-square-meter green area, a conference hall, as well as medical and childcare facilities.

The property was valued at ¥7.18 billion as of May 1, according to a release.

The company will use debt and funds on hand to pay for the property.

As of July 2, US$1 was equivalent to ¥110.78.