Kenedix Retail REIT (KRR) has acquired interests in two shopping malls in Kasugai, Aichi and Asahikawa, Hokkaido for a total consideration of JPY15.6 million.

The first asset in Aichi is iias Kasugai, which is master leased to Daiwa House Realty, and a 70% stake in the asset has been acquired by the REIT for JPY14.5 million.

The asset features about 27,800 square metres of leasable area and it is 96.7% occupied, said the REIT on 6 October.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.