TOKYO, Mar 16 (Pulse News Wire) – Tokyu Reit, Inc. (8957.T) announced today the acquisition of two domestic properties—Hukugoyagaito Round Building and Tokyu Susukino Building—for a total purchase price of ¥3.280 billion excluding related expenses, fixed assets tax, and urban planning tax.
The acquisitions were made through its asset management company, Tokyu Real Estate Investment Management Co., Ltd., from Tokyu Corporation. The Hukugoyagaito Round Building, located near major transportation hubs such as the Oedo Line and Asakusa Line, offers high traffic convenience and potential office demand due to its proximity to emerging business districts. It was acquired for approximately ¥2.1 billion and will be managed by Tokyu Property Management. The Tokyu Susukino Building, situated in a densely populated area with multiple large residential complexes, is expected to attract neighborhood shopping center traffic.
With convenient bus service from Azamino Station, it was purchased for around ¥1.26 billion. Both buildings are anticipated to contribute positively to the portfolio's NOI and net income growth. Tokyu Reit plans to continue focusing on enhancing the quality of its portfolio while monitoring capital markets and real estate trends. The acquisitions align with their circular reinvestment model aimed at boosting long-term value in key investment regions.
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