Japan Metropolitan Fund (JMF) Investment Corporation has announced the acquisition of a residential asset in Tokyo for JPY4,320 million.

The REIT is acquiring the asset, which is still under construction, at a discount to its independently appraised value of JPY4,530 million.

The asset is located within Asakusabashi in Taito-ku, Tokyo and it has 13 storeys with 2,900 square metres of lettable area.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.