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Kenedix Office Investment Corporation Partially Sells Tokyo Land Property

December 2, 2021 – Kenedix Office Investment Corporation announced that it has decided to partially sell a part of the land of KDX Toranomon 1chome Building.

The sale price of the property is 1.7 billion eyn (US$15 million). The payment is scheduled to be made after the completion of the registration of the ownership transfer by the Tokyo Metropolitan Government, which is the buyer.

Kenedix said the reason for sale is that the frontal road on the east side of the Property has been targeted in the “Tokyo Urban Planning Arterial Radial Road No. 21 Development Project” since before and was approved as an urban planning project by the Ministry of Land, Infrastructure, Transport and Tourism on March 20, 2019.

The implementation of the Sale was decided following discussions for land expropriation held between Tokyo Metropolitan Government, which intends to acquire the targeted project site, and the Investment Corporation, as the land subject to the sale is not included in the land portion of the building of the Property and has no impact on the leasing business.

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