Hamburg-based Union Investment Real Estate has purchased the Duplex Office Tower in Tokyo's famous Shibuya ward. The new property with a gross floor area of over 9,000 m[sup]2[/sup] was the first transaction on behalf of Union Investment's open-ended real estate fund UniImmo: Europa in Tokyo for some EUR 130 mln. The investment follows shortly after Union Investment's acquisition of the Solado Harajuku retail property and the Glass City Harumi office building.
Hamburg-based Union Investment Real Estate has purchased the Duplex Office Tower in Tokyo's famous Shibuya ward. The new property with a gross floor area of over 9,000 m2 was the first transaction on behalf of Union Investment's open-ended real estate fund UniImmo: Europa in Tokyo for some EUR 130 mln. The investment follows shortly after Union Investment's acquisition of the Solado Harajuku retail property and the Glass City Harumi office building.
'Due to the building's excellent location it promises to be a long-term investment of great potential. We are pleased to be able to further diversify Union Investment's portfolio with such an astonishing building,' said Steffen Wolf, managing director of Union Investment Real Estate Asia Pacific.
Union Investment RE added significantly to its portfolio in the Asia-Pacific region in 2008, investing some EUR 700 mln in a total of 10 buildings comprising office, retail and residential properties in Malaysia, Japan and Singapore.
