German property investor Union Investment said on Thursday it closed its first deal for an office property in Tokyo. The company has signed binding agreements to acquire the Shiomi-Koyama Office building for more than JPY 20 bn (over EUR 130 mln) for its worldwide open-ended real estate fund UniImmo: Global. The firm noted that the deal follows the purchase of six residential buildings in 2007.
German property investor Union Investment said on Thursday it closed its first deal for an office property in Tokyo. The company has signed binding agreements to acquire the Shiomi-Koyama Office building for more than JPY 20 bn (over EUR 130 mln) for its worldwide open-ended real estate fund UniImmo: Global. The firm noted that the deal follows the purchase of six residential buildings in 2007.
The 22,000 m2 Shiomi-Koyama is a grade-A office building close to Tokyo Main Station and is fully let.
Union Investment was advised by Mitsubishi Real Estate and IRECS.
