Hines acquires premium office and logistics buildings in Tokyo and Osaka
By Nur Hikmah Md Ali
/ EdgeProp Singapore |
In March, Hines' Japan team acquired Osaka Minoo Logistics, about 30 minutes' drive from Central Osaka (Photo: Hines)
Global real estate investment manager Hines has acquired a premium office building in Tokyo and a logistics property in greater Osaka, the company announced on April 25.
The premium office, "Zenith Minami Shinjuku", is a newly built 14-storey building in Yoyogi, a neighbourhood in Tokyo. The office was acquired off-market by Hines in Japan in December last year.
In March, Hines' Japan team acquired Osaka Minoo Logistics, about 30 minutes' drive from Central Osaka. The industrial property occupies a land area of 645,835 sq ft, fully leased and powered by renewable energy.
The premium office, "Zenith Minami Shinjuku", is a newly built 14-storey building in Yoyogi, a neighbourhood in Tokyo acquired by Hines in December (Photo: Hines)
"We buy, we build, and we invest when the opportunity is right," said Jon Tanaka, country head of Japan at Hines. "Japan remains the most liquid of the major real estate markets in the world with the lowest interest rates."
Tanaka also observes a continued increase in tenant demand for well-located, green premium buildings, reflecting employers' growing interest in sustainability and talent recruiting.
With the recent addition of the office building in Yoyogi, Hines' portfolio in Japan has expanded to 32 assets. The assets span six key cities - Tokyo, Osaka, Kyoto, Yokohama, Nagoya, and Fukuoka - across different sectors, including residential, industrial, logistics, and office.
The portfolio covers 5.38 million sq ft of total space and is valued at US$1.7 billion (S$2.31 billion).
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