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Japan

Kenedix Office Investment, Kenedix Residential, Kenedix Retail Will Merge

June 13, 2023 – Kenedix Office Investment Corporation (KDO), Kenedix Residential Next Investment Corporation (KDR) and Kenedix Retail REIT Corporation (KRR) have resolved to undertake an absorption-type merger, with November 1, 2023, as the effective date, whereby KDO will be the surviving corporation and KDR and KRR will be the dissolved. Through the merger, the

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NTT UD REIT Revises Upwards Performance Forecast For Year Ending October 2023

NTT UD REIT Revises Upwards Performance Forecast For Year Ending October 2023 March 25, 2023 – NTT UD REIT Investment Corporation (NUD) said that it has revised its performance forecast for the six-month period ending April 2023 and October 2023 following an acquisition. Its net income forecast for the fiscal period ending April 2023 will

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Microsoft Japan downsizes Shinagawa HQ office, returning 3,500 tsubos: Nikkei Real Estate Report

Microsoft Japan downsizes Shinagawa HQ office, returning 3,500 tsubos March 18, 2023 – Microsoft Japan will reduce the lease space for its headquarters in Shinagawa Grand Central Tower in Konan, Minato-ku, the Nikkei Real Estate Market report said, citing sources. Microsoft Japan relocated all its offices in Tokyo to its Shinagawa Headquarters in 2011. The company initially

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Occupancy rate in Tokyo is expected to decline in 2023 due to excess supply, relocations

Occupancy rate in Tokyo is expected to decline in 2023 due to excess supply, relocations Jan 21, 2023 – The occupancy rate in Tokyo is expected to decline this year but “not significantly,” according to a survey conducted by the Nikkei Real Estate Market Report. 11 out of 19 respondents said the occupancy rate will

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Starhill Global REIT Sells Japan Mixed-Use Building For S$18.9 Billion

Starhill Global REIT Sells Japan Mixed-Use Building For S$18.9 Billion Dec 30, 2022 – YTL Starhill Global, the manager of Starhill Global REIT (SGREIT), announced that SGREIT has agreed to divest Daikanyama located in Shibuya-Ward, Tokyo, for JPY1,877.7 million (S$18.91 million). This translates to a 39.1% and 2.9% premium over the latest valuation and acquisition price of the property

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Japan’s Q3 Real Estate Transaction Volume Down 3%, Falling For The Third Consecutive Quarter

Japan’s Q3 Real Estate Transaction Volume Down 3%, Falling For The Third Consecutive Quarter Gaw Capital, Qatar Investment Authority and Blackstone acquired residential assets. Activities by REIT were subdued in the quarter. Nov 20, 2022 – The number of real estate sales transactions in Japan fell 8% year-on-year in the third quarter to 356, according

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