Japan Excellent to Purchase Bizcore Kanda-Sudacho and Stake in Kowa Nibancho Building
MT Newswires Live
Sep 24
Japan Excellent (TYO:8987) has agreed to acquire domestic real estate trust beneficiary rights for Bizcore Kanda-Sudacho for 2.71 billion, effective Sept. 29, from sponsor Nippon Steel Kowa Real Estate.
The REIT will also acquire an equity interest in an anonymous association of Nibancho Property Godo Kaisha, which owns the Kowa Nibancho Building, for 1.2 billion yen, effective Sept. 28.
The acquisitions serve as replacement assets for the Daiba Garden City Building, which the REIT has decided to dispose of, according to a Tokyo bourse filing on Thursday.
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