GOR to Acquire Two Office Assets, Lifting Portfolio to Record Scale

Global One Real Estate Investment Corporation ( (JP:8958) ) has provided an announcement.

Global One Real Estate Investment Corporation has agreed to acquire trust beneficiary interests in two domestic office properties, Grand Central Chiba in Chiba City and ICON PLACE Shibakoen in Tokyo’s Minato Ward, for a combined 26.7 billion yen. The acquisitions will be funded through a mix of borrowing, internal funds and proceeds from a new public offering of investment units.

The deals form part of GOR’s external growth strategy following recent asset replacements and will lift its asset size to a record 235.0 billion yen while keeping portfolio NOI yield around 4.2%. Management expects the additions to slightly improve NOI yield after depreciation, support a recovery in recurring earnings per unit, and, via the equity offering, bring the LTV ratio below 50%, thereby strengthening financing flexibility despite a temporary LTV rise at the time of the Grand Central Chiba closing.

The most recent analyst rating on (JP:8958) stock is a Hold with a Yen151416.00 price target. To see the full list of analyst forecasts on Global One Real Estate Investment Corporation stock, see the JP:8958 Stock Forecast page.

More about Global One Real Estate Investment Corporation

Global One Real Estate Investment Corporation is a Japanese real estate investment trust focused on office and commercial properties in major urban areas. Its assets are managed by Global Alliance Realty Co., Ltd., and the REIT pursues medium- to long-term portfolio growth and improved profitability through strategic acquisitions and asset replacements in key business districts across Japan.

Average Trading Volume: 3,174

Technical Sentiment Signal: Buy

Current Market Cap: Yen133.1B

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