Tall & Urban News

A domestic consortium has outbid foreign investors to acquire an office tower in Tokyo. Led by Hulic, the consortium have won a share in the Otemachi Place office tower in Tokyo. 

The sale price is expected to be somewhere in the ¥400 billion (US$2.8 billion) range, which would make it the largest single real estate transaction in Japan’s history. This would exceed 2021’s record, which was set last year for the Dentsu Building which went for around ¥300 billion. 

The Ministry will enter into a sale agreement with the winning bidder, Tosei Asset Advisors November 2022 with the transfer taking place in December 2022. The transaction is primarily for a share in the East Tower which has Sumitomo Corporation as the anchor tenant.

For more on this story, go to Japan Property Central.