Ichigo Office REIT Investment Corporation (JP:8975) has released an update.
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Ichigo Office REIT Investment Corporation has decided to sell the Ichigo Yotsuya 4 Chome Building for JPY 1,000 million, which is double its book value and significantly higher than its appraisal value. The sale will result in gains of JPY 422 million and is part of the company’s strategy to enhance shareholder value by focusing on high-quality, mid-size office assets. Proceeds from the sale will be reinvested into strategic acquisitions and capital expenditures to further improve the company’s portfolio.
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