Ichigo, a Tokyo-based sustainable infrastructure company with businesses centered on real estate and clean energy, has plans to acquire all shares of Tosho Tokai REIT Investment Corp. and its asset management company, Tosho Asset Management, from Tosho Co. Financial terms were not disclosed.
Tosho Tokai REIT owns 24 high-quality residential assets in Aichi Prefecture in Japan. As of January, the REIT had total assets valued at ¥19.065 billion ($120 million).
According to the document detailing the planned acquisition, Ichigo said it is further expanding its competitive strengths to grow as a sustainable infrastructure company. In particular, the firm is leveraging its real estate know-how and value-add capabilities to grow stock earnings via nonasset businesses and build out its asset management business.
Upon completion of the acquisition, Ichigo will temporarily own 100 percent of Tosho Tokai REIT shares, making Tosho Tokai REIT a subsidiary. However, going f
