Japan Prime Realty Investment Corporation
Notice of Acquisition of Asset (Execution of Contract) (Acquisition of JA Building / Keidanren Kaikan)
Acquired the JA Building / Keidanren Kaikan in the Otemachi area, an asset with high rent-growth potential. Acquisition price 32.8 billion yen, post-depreciation yield 3.0%, occupancy rate 96.6%. Aiming for internal growth through fixed-term lease re-contracting. Seller is Tokyo Tatemono Co., Ltd.; acquired a 22.5% undivided ownership interest.
Key Figures
- Acquisition price: 32.8 hundred million yen
- Appraised value: 36.1 hundred million yen
- Appraisal yields: NOI yield 3.3%, post-depreciation yield 3.0%
- Occupancy rate: 96.6%
- Undivided ownership interest in sectional ownership: 22.5%
AI要約
News Summary
Japan Prime Realty Investment Corporation acquired the JA Building / Keidanren Kaikan in the Otemachi / Marunouchi area using the sponsor pipeline. The acquisition price is 32.8 billion yen, appraised value 36.1 billion yen, NOI yield 3.3%, post-depreciation yield 3.0%, and occupancy rate is a high 96.6%. The company acquired a 22.5% undivided ownership interest in the sectional ownership, and the seller is Tokyo Tatemono Co., Ltd.
Future Strategy and Impact
The rent gap for this property is above the portfolio average, indicating significant rent growth potential. The company will continue acquiring assets in areas with strong rent growth prospects. Leveraging the timing of fixed-term lease re-contracting amid rising rents in the Otemachi / Marunouchi area, the company aims to realize internal growth potential and expand the portfolio's profitability and scale.
Japan Prime Realty Investment Corporation
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