Transactions - JULY 14, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Japanese REIT buys stake in office tower for $103m

by Andrea Waitrovich

MCUBS MidCity REIT has acquired a 40 percent stake in Nagoya Lucent Tower in Nagoya, Japan, from Hulic Co. The property is valued at $256.3 million.

MCUBS MidCity REIT paid $102.5 million for its stake in the 42-story CBD office tower. As of 2010, it was Japan's 49th tallest structure.

MCUBS MidCity REIT is also acquiring G Square Shibuya Dogenzaka in Tokyo for $99.7 million from Mitsubishi Estate. The property is part of a three-property portfolio, which has a total sales price of $198.4 million. The other two office buildings are the Yokohama Creation Square with a $57.8 million sales price and Shibuya Sakuragaoka Square, which sold for $40.8 million.

Other pending deals for MCUBS MidCity REIT include the purchase of Cube Kawasaki in Kawasaki, Japan, for $163 million from Nomura Real Estate Development.


Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy