NTT UD REIT is acquiring a six storey mixed commercial development asset in Nakano, Tokyo for JPY6,400 million.

The asset features about 7,100 square metres of lettable area and presently it is entirely leased out to a single tenant, said the REIT.

The acquisition consideration is lower than the independently-appraised value of JPY6,520 million.

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By Shariffa Al-Habshee

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