Advance Residence Investment (JP:3269) has released an update.
Advance Residence Investment Corporation announced the acquisition of RESIDIA Yokohama Odori-Koen, a relatively new 3.5-year-old real estate asset valued at 667 million yen for a purchase price of 589 million yen. The acquisition, scheduled for October 16, 2024, aligns with ADR’s strategy for asset size growth and portfolio diversification and enhancement. The property boasts a high occupancy rate of 94.7% and will be managed by ITOCHU Urban Community Co., Ltd.
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