Singapore-listed mixed commercial REIT, Mapletree Greater China Commercial, has expanded its footprint into Japan by acquiring an interest in a portfolio of six freehold office properties across Tokyo, Yokohama and Chiba for JPY60,926 million ($575 million).
The REIT will acquire an effective interest of 98.47 percent in the portfolio, which will be bought from MJOF, a private real estate closed-end fund managed by a wholly owned subsidiary of Mapletree Investments.
The Japan Portfolio comprises six freehold office buildings with three in Tokyo (IXINAL Monzen-nakacho Building, Higashi-nihonbashi 1-chome Building, and TS Ikebukuro Building), ABAS Shin-Yokohama Building in Yokohama, and two in Chiba (SII Makuhari Building and Fujitsu Makuhari Building).
The office locations where the buildings are situated are well-established hubs with attractive micro-location characteristics. Situated close to busy train stations, public transportation nodes and major arterial roads, the properties provide good connectivity and are cost-efficient office locations for our tenants.
