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Japanese REIT to purchase more than $300m of retail assets

by Andrea Waitrovich

Japanese REIT Kenedix Retail REIT is under contract to purchase several retail properties across Japan valued at an estimated $305.9 million from a variety of sellers.

The highest priced assets were part of a two-property portfolio sold by sponsor Kenedix. Both properties are located in Osaka. The portfolio includes the 81,167-square-foot Carino Esaka with a $52.9 million price tag and the 274,810-square-foot Combox Komyoike with a $52.1 million sales price.

The third highest priced asset was the Super Viva Home Lwatsuki in Saitama, which sold for $38.9 million. The asset is part of two-property portfolio sold by SMFL. The other asset was the Ashico Town Ashikaga, which sold for $33.7 million.

Kenedix Retail REIT Corp. was listed on the Tokyo Stock Exchange on Feb. 10 as a REIT.

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