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MGCCT acquiring six properties in Japan for $753 mil; to be renamed Mapletree North Asia Commercial Trust

By PC Lee

/ The Edge Singapore |

March 28, 2018 1:45 PM SGT

SINGAPORE (Mar 28): Mapletree Greater China Commercial Trust (MGCCT) is expanding its property portfolio into Northern Asia.

The REIT is acquiring a 98.47% stake in a portfolio of six freehold commercial real estate assets in Japan for $753.4 million.

The Japan portfolio comprises six freehold office buildings, namely three in Tokyo, one in Yokohama and two in Chiba with a total GFA of 1.65 million sq ft and total NLA of 1.60 million sq ft.

Exterior of IXINAL Monzen-Nakacho Building at Monzennaka-cho, Koto-ward, Tokyo

IXINAL Monzen-Nakacho Building at Monzennaka-cho, Koto-ward, Tokyo, one of the six commercial real estate assets acquired (Credit: Mapletree Investments)

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