Ichigo Office REIT buys two offices for $48m

Ichigo Office REIT Investment Corp., a subsidiary of Ichigo Investment Advisors, has acquired two office buildings, Fukuoka, Japan,  for JPY 6.25 billion ($48 million).

The seller was the Ichigo Office Bridge Fund.

As a specialized office REIT that delivers robust earnings stability via a diversified portfolio, Ichigo Office continues to execute on its strategy to grow shareholder value by focusing its portfolio on high-quality, mid-size office assets, according to the release.

Ichigo Office REIT plans to carry out value-add enhancements to the pair of properties. The acquisition includes Ichigo Hakataeki Higashi Building and Fukuoka Kensetsu Kaikan. Both located on the eastern Hakata Station area, part of Fukuoka’s main commercial district, where many office buildings, occupied by financial institutions, major corporations and hotels, stand along a maintho