Ichigo Office REIT has decided to dispose of the retail section of its asset known as Twicere Yokohama Isogo.

The section, which spans the basement to the third floor of the asset, is being disposed of to an unrelated third party for JPY1,600 million.

The asset’s book value is JPY1,418 million and has been independently appraised at JPY1,510 million, the REIT disclosed on 22 September.

Ichigo Office REIT is a Japan-listed REIT with a portfolio of mostly office assets across the country.

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By Shariffa Al-Habshee

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