Japanese REIT Starts Proceed Investment Corporation is divesting one of its residential assets in Tokyo for JPY284.5 million as part of an asset rejuvenation programme.

The asset, Proceed Oizumigakuen, is being divested to an unnamed third party for JPY284.5 million.

A contract to dispose of the asset was concluded in May 2024 and the transaction is expected to complete on 28 June 2024, said the REIT.

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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.