SEPTEMBER 29, 2014

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AXA Tokyo office property fund fully invested

by Andrea Waitrovich

AXA Real Estate Investment Managers completed the acquisition of the Nishi Shinjuku KF Building, on behalf of its Tokyo Office Property Fund. Terms of the transaction were not disclosed.

The transaction is a co-investment between TOP and the Tokyo Office Real Estate Investment Fund, a fund managed by Sumitomo Mitsui Trust Real Estate Investment Management Co. It marks the fund’s fifth acquisition, bringing TOP to be fully invested and with ¥21 billion ($192 million) of assets under management.

The high-quality, 106,067-square-foot, six-story office is located in central Tokyo’s Nishi-Shinjuku district. The office space is currently fully leased to eight tenants in diversified industries.

Launched in 2012, TOP is a fund managed by AXA Real Estate; asset management of the property portfolio is undertaken by Sumitomo Mitsui Trust Real Estate Investment Management Co. Ltd., a wholly owned subsidiary of Sumitomo Mitsui Trust Bank,

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