Union Investment sells Tokyo office a decade after purchase
Union Investment has sold an office property in Tokyo after 10 years of ownership.
The Shiomi Koyama office building was sold to Japanese construction firm Shimizu Corporation.
The 17,600 sqm property, in the Kōtō district, is fully-let to financial services provider Daiko Clearing Services.
Union Investment had held the asset in its open-ended real estate fund Unilmmo Global.
The German fund manager said the building has good public transport links to Tokyo’s main railway station and Haneda airport.
Union, which in 2011 froze redemptions due to Japan’s crisis, said it has ambitions to further grow its Japanses portfolio.
Touchstone Capital Management advised Union on the sale.