Tokyo’s office market attracts buyers
Japan’s sought-after Tokyo office market is still a destination of choice for many investors, with recent deals echoing this sentiment.
CBRE Global Investors, acting on behalf of Fosun Property Holdings, the real estate and investment management arm of China’s Fosun Group, has acquired the Citigroup Centre Building in the Tennozu district of central Tokyo. The deal represents Fosun’s first direct property acquisition in Japan. The 25-storey, grade A building, located in Seafort Square, comprises around 30,000 square metres. The acquisition price and seller were not disclosed.
In other news, Japanese developer Mori Building has sold its headquarters, the Ark Hills South Tower in Tokyo, for ¥76.6 billion (US$728 million).