News, Events and Media

  1. 2010-08-12

    Japan Logistics REIT acquiring 90% share of a large-scale logistics

    J-Reits

    Japan Logistics REIT sponsored mainly by Mitsui Trading Corporation announced that they are acquiring 90% share of a large-scale logistics in Tokyo suburb (Chiba) at JPY 17.4 billion from Prologis. Prologis will keep the remaining share.

    http://8967.jp/eng/index.html

  2. 2010-08-05

    Average price per unit of secondhand condominiums showed a 4.7% rise

    Market

    According to Nikkei Newspaper, the average price per unit of secondhand condominiums in this June showed a 4.7% rise over the preceding month to JPY 30.8 million, which means the price recovered to the same level as 20 months before. Also, the number of new condominiums coming to market in H1 this year increased by 27% over the same period last year. This rise was the first time in recent 6 years. The average price of suburban lots for single-family houses also rose by 8% for H1 this year.

  3. 2010-08-05

    Tokyo Kikai Seisakusho is going to develop a mall & condo complex

    Developers

    Nikkei RE reports that Tokyo Kikai Seisakusho, a Japanese printing machine manufacturer is going to develop a 214,000 sqm mall & condo complex on the 34,000 sqm site of its former factory in Tokyo suburb Musashi-Kosugi (Kawasaki). The 110,000 sqm mall will be completes in 2014 and the 57 story, 770 unit apartment building is scheduled for completion in 2015.

  4. 2010-08-03

    AM Alpha acquires a Class A office building

    Foreign Investors

    AM Alpha, a Munich based real estate investment company acquires a Class A office building in central Tokyo (Aoyama). As reported by Nikkei RE on July 28, 2010. The 9-story Renai Aoyama Building faces Aoyama Dori and provides a total floor space of 6411 sqm. Aoyama street is home to many brand name retail stores and headquarter buildings of Oracle Japan and Honda Motors.

  5. 2010-08-03

    US major investor Blackstone Group will acquire the whole commercial mortgages owned by Morgan Stanley Japan

    Foreign Investors

    According to Nikkei (July 22, 2010), the US major investor Blackstone Group will acquire the whole commercial mortgages owned by Morgan Stanley Japan. There are around JPY 100 billion at face value with around 30 collaterals mainly located in the greater Tokyo.

  6. 2010-08-03

    Singapore-related fund buys an office building in northern Tokyo

    Foreign Investors

    A Singapore-related fund buys an office building in northern Tokyo (Bunkyo Ward) at around JPY 7 billion according to a July 12, 2010 report by Nikkei RE.

  7. 2010-08-03

    Morgan Stanley sponsored fund sold Hyatt Regency Hakone Resort

    Foreign Investors

    Morgan Stanley sponsored fund sold Hyatt Regency Hakone Resort to a SPV believed to be held by a Hong Kong based investor according to a July 5, 2010 report by Nikkei.

  8. 2010-08-03

    US fund manager Fortress Investment Group becomes de facto owner of DaVinci

    Foreign Investors

    US fund manager Fortress Investment Group becomes de facto owner of DaVinci, a Japanese major asset manager, by acquiring JPY 20.5 billion (US$ 220 million) of its debt from BNP Paribas together with the accompanying subscription rights to new shares as reported on July 5, 2010 by Nikkei RE.

  9. 2010-08-03

    Japan Hotel Fund REIT announced that Rockrise Sdn Bhd acquires 70% shares

    J-Reits

    Japan Hotel Fund REIT announced on July 29, 2010 that Rockrise Sdn Bhd based in Malaysia acquires 70% shares of their operating company. The major substantial investors in Rockrise are City Developments Limited in Singapore and Franklin Resources, Inc. in the US.

  10. 2010-08-03

    REITs raised JPY 200 billion from the market in H1 of 2010

    J-Reits

    According to Nikkei July 13 /2010, REITs raised JPY 200 billion from the market in H1 of 2010. Thereby the funding of REITs recovered to the same level as before Lehman’s fall.

  11. 2010-08-03

    NTT Urban Development will enter the REIT market

    J-Reits

    NTT Urban Development (Nippon Telegraph and Telephone Corporation, the largest telecom company in Japan) revealed on April 26 that it will enter the REIT market by acquiring a share in the asset management company Premier REIT Advisors. According to a report by Nikkei RE NTT Urban will become the top shareholder with 53.1% in Premier. Premier REIT owns 45 properties worth JPY 140 billion (US$ 1.5 billion) as acquisition value. The company aims to expand its assets through acquisition of blue chip office buildings.

  12. 2010-08-03

    CB Richard Ellis latest results of CBRE Quarterly Survey released

    Market

    CB Richard Ellis latest results of CBRE Quarterly Survey released on May 31, 2010 shows a compression of expected yields for all real estate sectors, especially multi-family residential buildings experience sharper declines.

    “Multi-family residential buildings began to decline earlier than the other sectors, and the fall in the quarter under review was sharper than before. This is a reminder that a recovery in multi-family residential buildings leads the recovery process in the real estate investment market.”

  13. 2010-08-03

    Total unrealized capital gains prove to show JPY 10 trillion

    Market

    According to Nikkei report on July 20, 2010, total unrealized capital gains in real estate of Japanese listed companies, prove to show JPY 10 trillion. The average return on those properties shows 3.2%. Japanese accounting system for real estate fixed assets changed at the end of this March. Listed companies have to disclose its fair value.

  14. 2010-08-03

    Mitsuba Kogyo will construct rental office

    Developers

    Nikkei RE reports on July 15, 2010 that Mitsuba Kogyo, a private company engaged in the operation of movie theaters and real estate leasing business will construct 12,000 sqm rental office in central Tokyo (Kojimachi)

  15. 2010-08-03

    Subsidiary of NTT starts construction rental office

    Developers

    Nikkei RE reports on July 13, 2010 a subsidiary of NTT (Nippon Telegraph and Telephone Corporation) starts construction of 15,000 sqm rental office in central Tokyo (Kanda)

  16. 2010-07-28

    Mapletree Logistics Trust acquired additional 3 properties in Tokyo

    Foreign Investors

    Mapletree Logistics Trust, a Singaporean REIT, announced they acquired additional 3 properties in Tokyo suburb (Saitama & Chiba) at JPY 13 billion in total from a Japanese logistics company. Their total investment in Japan stands at 13 properties with a total acquisition value of JPY 50 billion.

    http://www.mapletreelogisticstrust.com/news_details.aspx?oid=499

  17. 2010-07-27

    Welcome to our new Information Service

    Kenzo

    Starting from July 1, 2010 we will provide our clients, business partners and visitors to this page with market information about the Japanese Real Estate Market available from Japanese and English language media source.

    We will summarize articles that have been published by media such as newspapers, magazines, research institutes, on-line new providers and provide our visitors with the source of such news.

    With this new service we want to inform those who are not able to follow or have access to all publications on a daily basis with a quick overview on developments, trends and transaction examples. This service is not intended to cover all Japanese real estate news releases, the articles will be chosen by our sole discretion.

  18. 2010-07-13

    Parkway Life Singaporean REIT announced they acquired additional 5 nursing home properties

    Foreign Investors

    Parkway Life Singaporean REIT announced they acquired additional 5 nursing home properties in Japan at JPY 3 billion from a Japanese real estate fund operator. Their total investment in Japan has become 29 properties at JPY 25 billion.

    http://www.plifereit.com/newsroom.html

  19. 2010-07-08

    Flavor of the Month

    Kenzo

    Office Market Tokyo: “In-Place Rent compared to Asking Rent developments”

    The chart below shows the development of Asking Rents for new or vacant office space for class A office in Tokyo CBD 5 in comparison to the development of Traditional Rent Renewals in Tokyo. continue »

  20. 2010-07-07

    The Association for Real Estate Securitization releases its 5th edition of the questionnaire survey on the financing environment

    J-Reits

    On April 13, 2010 the Association for Real Estate Securitization releases its 5th edition of the questionnaire survey on the financing environment surrounding J-REITs. The result shows that the financing environment surrounding JREITs as of March end has significantly improved compared to the previous survey as of the end of last year.

  21. 2010-07-07

    Office building vacancy rate rises to 6.9%

    Market

    The vacancy rate for office buildings Tokyo 23 Wards in Q1 of 2010 rose by 0.4% to 6.9. This was the smallest quarterly increase since the ‘Lehman Shock’ according to CB Richard Ellis preliminary data on office market dated April 8, 2010. According to CBRE the outlook for economic and business activities has become clearer, allowing enterprices to take a mid to long term view in decision making.

  22. 2010-07-07

    The 22nd semi annual edition of the Japanese Real Estate Investor Survey was released

    Market

    On May 20, 2010 the Japan Real Estate Institute Foundation released its 22nd semi annual edition of the Japanese Real Estate Investor Survey. It shows a continuing recovery in the investment interest trend and suggests that cap rate lift seems to have stopped for almost all regions and all types of property.
    http://www.reinet.or.jp/en/data.html

  23. 2010-07-07

    LaSalle Investment Management has acquired Glass City Shibuya

    Foreign Investors

    LaSalle Investment Management has acquired Glass City Shibuya from a fund sponsored by Davinci Advisors, who bought the property in 2008 from Morgan Stanley. The building was bought for LaSalle Asia Opportunity Fund III. The 10,639 sqm office space building was build in 2004 and is located in Shibuya district, 10 minutes walk of Shibuya JR station. According to NIKKEI Real Estate Market Report on June 22, 2010 LaSalle decided on the investment after determining that real estate prices in Japan will see adjustments. The company will invest further US 2 billion in equity over the next 18 month, 50 to 60% of which in Japan

  24. 2010-07-07

    AXA Real Estate Investment Managers and Sumitomo Trust & Banking signed a joint agreement

    Foreign Investors

    AXA Real Estate Investment Managers and Sumitomo Trust & Banking signed a joint agreement in March 2010 on a real estate investment fund targeting Japanese real estate assets with a total size of JPY 100 billion of AUM and JPY 50 billion in equity. According to NIKKEI Real Estate Market Report on April 13, 2010 the fund targets office buildings in Tokyo with a individual value of JPY 3 to 8 billion aiming for a cap rate exceeding 5.5%. Both companies announced their plans for this fund already in October 2009.

  25. 2010-07-07

    Credit Agricole Group fund acquired the Yanagibashi First Building

    Foreign Investors

    Credit Agricole Group fund, Fudo Capital II, a Asia real estate investment fund, acquired the Yanagibashi First Building as its first investment in Japan. According to NIKKEI Real Estate Market Report on April 26, 2010 the investors plans to improve the value of the 1987 building by renovation and other means. The 12,623 sqm rentable space building is almost fully occupied.

  26. 2010-07-07

    Singapore’s Mapletree Investment acquires an office in eastern Tokyo

    Foreign Investors

    Singapore’s Mapletree Investment, a wholly owned subsidiary of state owned investment company Temasek Holdings, acquires an office in eastern Tokyo (Koto ward) from Itochu, a major Japanese trading firm. As reported by NIKKEI Real Estate Market Report on April 12, 2010 the 9156 sqm floor space building is fully occupied by IT systems developer JBIS Holdings and its group companies.

  27. 2010-07-07

    Mapletree Logistics Trust (MLT) acquired a logistics in northern Japan

    Foreign Investors

    Mapletree Logistics Trust (MLT), a Singapore listed REIT acquired a logistics in northern Japan (Sendai), at a price of JPY 1.49 billion. The freezing and refrigeration property 15 km from Sendai airport is fully leased until 2019. According to the publication of NIKKEI Real Estate Market Report on June 15, 2010 on this transaction MLT expects a 6.8% net return on its 10th logistic investment.

  28. 2009-11-01

    Kenzo Capital Corporation will participate in Expo Real 2009: The 12th International Commercial Property Exposition in Munich

    Kenzo

    We will be presenting our company and services together with our cooperation partner to many core real estate investors from Germany and Europe. continue »

  29. 2009-08-31

    Weekly news paper “Shukan Jyutaku” interviews Kenzo Capital president Dr. Leonard Meyer.

    Kenzo

    (News article on “Shukan Jyutaku” (Japanese weekly paper on real estate), Aug 31,2009)

    Non-Japanese funds start to surface again… Kenzo Capital becomes active…

    continue »

  30. 2009-08-28

    Kenzo Capital Corporation and Genkai Capital Management Co., Ltd. agree on joint venture.

    Kenzo

    FOR IMMEDIATE RELEASE Tokyo, Japan

    Kenzo Capital Corporation and Genkai Capital Management Co., Ltd. announced that they would work jointly with European investors on a separate account basis. continue »

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