Comforia Residential REIT, Inc. agreed to acquire Comforia Akihabara East, Comforia Kamata, Comforia Shinsaibashi East, Comforia Kyomachibori and Comforia Awaza from Tokyu Land Corporation and an unknown seller for ¥15 billion.
January 05, 2017
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Comforia Residential REIT, Inc. (TSE:3282) agreed to acquire Comforia Akihabara East, Comforia Kamata, Comforia Shinsaibashi East, Comforia Kyomachibori and Comforia Awaza from Tokyu Land Corporation and an unknown seller for ¥15 billion on January 5, 2017. 70% interest in Comforia Shinsaibashi East will be acquired from an unknown seller. The acquisition price for Comforia Akihabara East is ¥4.4 billion, Comforia Kamata is ¥5.7 billion, Comforia Shinsaibashi East is ¥2 billion, Comforia Kyomachibori is ¥1.6 billion and Comforia Awaza is ¥1.3 billion. Comforia Residential REIT, Inc. will fund the acquisition from the issuance of new investment units and certain borrowings.
Japan Real Estate Institute acted as an appraiser for Comforia Akihabara East, Comforia Kamata, Comforia Shinsaibashi East, Comforia Kyomachibori and Comforia Awaza. The transaction was approved by the Board of Comforia Residential REIT, Inc. and is expected to complete on February 2, 2017.
Comforia Residential Reit Inc is a Japan-based residential real estate investment trust (REIT). The REIT is a closed-end fund. The REIT is principally engaged in the investment in residential real estates that are for lease, and real estate backed assets. The REIT focuses on the investments in general leasing properties with stable earnings. The REIT's portfolio consists mainly of leasing properties for singles and small families. The REIT also invests in other operated residential real estates, such as senior housings, service apartments, and student dormitories. The REIT primarily invests in leasing properties located in Tokyo metropolitan and other residential properties in communities in other cities. The REIT has Comforia Kitauhorie, Comforia Oshima, Comforia Omori Trois, Comforia Shibaura and other lands and buildings.
Comforia Residential REIT, Inc. agreed to acquire Comforia Akihabara East, Comforia Kamata, Comforia Shinsaibashi East, Comforia Kyomachibori and Comforia Awaza from Tokyu Land Corporation and an unknown seller for ¥15 billion.