Frontier REIT Acquires Two Japan Properties
February 17, 2020 — Frontier Real Estate Investment Corporation announced the decision of Mitsui Fudosan Frontier REIT Management Inc., the Investment Corporation’s asset management company, reached on February 14, 2020, to acquire TENJIN216 and La La Chance HIROSHIMA Geihinkan (land interest).
As the seller of these properties is a related party of the Asset Management Company as defined by the latter’s internal rules regarding transactions with related parties, in line with said rules, the Asset Management Company obtained authorization from the Investment Corporation based on an approval granted by the Investment Corporation’s Board of Directors meeting held on February 13, 2020.
The proposed acquisitions are in line with the Investment Corporation’s “Basic Policy of Asset Management” and “Investment Stance” as stipulated in its Articles of Incorporation.
Specifically, the Investment Corporation expects the Acquisition to help expand its asset size while enhancing the diversity of its properties in terms of geographical location and type of tenant.
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