Tokyo Tatemono sells 22.5% stake in Otemachi offices to REIT for ¥32.8 billion
Tokyo Tatemono has agreed to sell a 22.5% interest in the JA Building and Keidanren Kaikan in Otemachi to Japan Prime Realty Investment Corporation for JPY 32.8 billion ($207.4 million). The deal offers a 3.3% net operating income yield.
Japanese developer Tokyo Tatemono has agreed to sell a 22.5 per cent interest in the JA Building and Keidanren Kaikan to Japan Prime Realty Investment Corporation for JPY 32.8 billion ($207.4 million). Tokyo Tatemono sponsors the TSE-listed REIT.
The two office towers stand in Otemachi, the business district beside Tokyo Station. Japan Valuers appraised the interest at JPY 36.1 billion, and it offers a 3.3 per cent net operating income yield, the REIT’s manager said.
In other Asia-Pacific real estate news, new home prices across 70 Chinese cities fell 0.14 per cent in September from August, slowing from August’s 0.17 per cent drop. The figures exclude state-subsidised housing. Prices for resale homes, which face less government intervention, fell 0.26 per cent, according to the National Bureau of Statistics.
Japan’s regional banks increased outstanding real estate loans by JPY 3.1 trillion ($19.6 billion) year-on-year in the April to June quarter, according to the Regional Banks Association of Japan. It is the largest rise since comparable data began in 2011. Their property loans reached JPY 47.3 trillion, excluding mortgages.
In Australia, Partners Group-backed GreenSquare has opened the first stage of its SYD1 data centre in a converted 1995 facility in Western Sydney’s Norwest Business Park. Its first customer is NASDAQ-listed Sharon AI, which will deploy about 8,200 Nvidia chips. The New South Wales government’s Investment Delivery Authority endorsed support for a proposed 80-megawatt second stage.
Stockland recorded 1,506 net sales across its masterplanned residential communities in the September quarter, down from 1,936 in the previous quarter. The company kept its guidance for funds from operations of A$0.38 to A$0.39 ($0.26 to $0.27) per security for the year to June 2027.
Singapore co-living operator The Assembly Place aims to reach 10,000 keys by 2030, up from 3,520 as of June, CEO Eugene Lim told the Business Times. The Catalist-listed firm has secured a pipeline of 2,100 keys and is expanding into hostels, healthcare staff housing and migrant worker dormitories.
Singapore’s good class bungalows recorded 14 sales worth S$406.2 million ($317.5 million) in the first eight months of 2026, according to Knight Frank. That is down from 17 deals worth S$530.6 million a year earlier.
