Japan Retail Investment (JP:8953) has released an update.
Japan Metropolitan Fund Investment Corporation (JMF) is set to bolster its investment portfolio with the acquisition of 980 additional units of Nisshin Private Residential Reit, Inc., at a discounted rate, for approximately 1,186 million yen. This move aims to enhance JMF’s unitholder value, as the asset scale of Nisshin has grown by 45% and dividend yield by 16% since JMF’s initial acquisitions. The acquisition is expected to increase JMF’s holding in Nisshin to 29.9%, reflecting a strategic push towards more stable and profitable residential investments.
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