Office assets-heavy REIT Japan Real Estate Investment Corporation (JRE) is acquiring a property in Minato‐ku, Tokyo for JPY 21,000 million.

The asset is being acquired from Mitsubishi Estate Co Ltd, the REIT disclosed on 7 March.

Known as 3rd Minami Aoyama, the 13-storey office tower was completed in 2023 and has been independently valued at JPY 21,200 million.

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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.