Ichigo Office REIT’s sponsor has increased its stake in the listed entity.

The stake was increased by 42,168 units, which were acquired on 10 January for JPY83,000 each.

In total, Ichigo Office REIT’s sponsor paid JPY 3,499,944,000 for the acquisition.

The units were purchased from Ichigo Trust Pte Ltd, a major shareholder of the REIT.

Ichigo Office REIT has described the acquisition as one that would support the REIT’s growth and drive long-term shareholder value.

With the acquisition, Ichigo Office REIT’s sponsor now owns 149,208 units of the REIT.

This represents a stake of 9.86% in the REIT.

Ichigo Office REIT was last done on the Tokyo Stock Exchange at JPY83,200.

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By Shariffa Al-Habshee

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