Hulic REIT has announced plans to acquire interests in three Tokyo properties for a combined ¥25.95 billion ($160.3 million) through an asset exchange and separate acquisition.
The REIT will acquire a 49 percent quasi co-ownership interest in Hulic Ginza Building for ¥14.7 billion ($90.8 million) and a 20 percent quasi co-ownership interest in Hulic Ginza World Town Building for ¥8.16 billion ($50.4 million) through an exchange with Hulic Co. It also will acquire a 90 percent quasi co-ownership interest in Edogawabashi Fuji Building from Fuyo General Lease Co. for ¥3.08 billion ($19.1 million).
As part of the exchange, Hulic Reit will transfer its 9 percent quasi co-ownership interest in Hulic Kamiyacho Building and its interest in Hulic Kudan Building land for a combined ¥21.33 billion ($131.8 million). The REIT said the transaction is part of an asset replacement strategy intended to improve the portfolio’s mid- to l
