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Hulic Reit wraps up ¥12B acquisition of 3 Tokyo properties

Hulic Reit Inc. completed the acquisition of three properties in Tokyo for ¥12.00 billion.

The properties bought from Hulic Co. Ltd. are the ¥5.10 billion Hulic Shibuya 1-chome Building and the ¥3.48 billion Hulic Higashi Nihonbashi Building office properties and the Hulic Omori Building retail asset for ¥3.42 billion.

The properties were part of a four-asset portfolio buy. The REIT expects to close the acquisition of the fourth property from Arai & Co. Ltd. on April 28.

As of March 31, US$1 was equivalent to ¥111.40.