NIPPON REIT Announces Major Real Estate Transactions

NIPPON REIT Investment Corp (JP:3296) has released an update.

NIPPON REIT Investment Corporation has disclosed its plans for asset transactions involving the transfer and acquisition of real estate trust beneficiary interests in Japan, totaling a scheduled transfer price of 23,485 million yen and an acquisition cost of 20,200 million yen. The transaction includes the transfer of FORECAST Shinjuku SOUTH and Field Avenue properties, with gains on transfers, and the acquisition of URAWA GARDEN BUILDING and a property tentatively named Shinagawa Konan PJ. These strategic moves are expected to realign the company’s asset portfolio and provide funds for new acquisitions.

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