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Japanese REIT sells five malls for $571m

by Andrea Waitrovich

Japanese developer GK Double 05 has acquired five AEON malls from Japanese REIT JRF for $571 million. The assets are AEON Mall Kashiihama, AEON Yachiyo-Midorigaoka, AEON Nishiotsu, AEON Ueda and AEON Omiya. JRF recently acquired four malls in Japan for $162.9 million. Another Japanese mall that sold this month is the Torius in Fukuoka, acquired by Cresus Retail Trust for $66.5 million. The seller was LaSalle Investment Management. And Kenedix Retail REIT acquired 12 malls in Japan for $281.7 million from various sellers.

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