Advance Residence Investment (JP:3269) has released an update.
Advance Residence Investment Corporation, managed by ITOCHU REIT Management, has announced the strategic acquisition of RESIDIA Itabashi, a beneficiary interest in trust, for 1,958 million yen with an NOI yield of 4.1%. The acquisition aligns with the company’s growth strategy to diversify and enhance its portfolio amidst a challenging acquisition environment in central metropolitan areas. The property, significantly younger than the portfolio average, is expected to contribute to a steady increase in asset size.
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