CBRE Global Investors has sold the Mitsubishi Fuso Portfolio in Japan.
The portfolio was acquired in July 2016 for JPY 105.1 billion ($980 million) on behalf of an investor consortium that included CBRE Asia Value Partners IV, the firm’s flagship Pan-Asia enhanced return investment program. It comprised 169 light industrial properties located across Japan with a combined GFA of 520,000 square meters (5.6 million square feet). These properties are fully leased to Mitsubishi Fuso Truck and Bus Corp., one of the largest heavy vehicle suppliers in Japan. Given the size of the portfolio, the acquisition was recognized as the largest real estate transaction in Japan that year.
The portfolio had been sold progressively with the final disposal successfully taking place earlier this month, notwithstanding the recent market disruptions arising from the COVID-19 pandemic. The sale price of all 169 properties in the portfolio aggregates to JPY 140.4 billion ($1.3 billion).
