<article>Singapore-listed <a href="https://www.dealstreetasia.com/?s=Croesus%20Retail Trust">Croesus Retail Trust</a> on Monday announced that it has sold its entire interest in a Japanese shopping mall for 20.8 billion yen ($186 million).</article>

Singapore-listed <a href="https://www.dealstreetasia.com/?s=Croesus%20Retail Trust">Croesus Retail Trust</a> on Monday announced that it has sold its entire interest in a Japanese shopping mall for 20.8 billion yen ($186 million).
In a disclosure to the Singapore Exchange, the Japan-focused property operator said it has sold its interest in <a href="https://www.dealstreetasia.com/?s=Croesus%20Shinsaibashi">Croesus Shinsaibashi</a> through <a href="https://www.dealstreetasia.com/?s=Mangosteen%20TMK">Mangosteen TMK</a>, of which it holds 49 per cent preferred shares and 27.27 per cent of specific shares.
The firm, however, did not disclose further details of the sale, including the buyer of its shares.
Croesus acquired the property, formerly named Luz Shinsaibashi, in 2013, at a valuation of approximately 9.38 billion yen ($84 million). It is located in the largest shopping area in Osaka, along Shinsaibashisuji Avenue, in the heart of Osaka&#8217;s premier shopping district. When Croesus acquired the property, it had over 2,000 square meters of net lettable area and was 100 per cent occupied, with H&amp;M as the key tenant.
“The sale represents part of the Issuer&#8217;s ongoing strategy to streamline its operations,” Croesus disclosed.
Croesus Retail Trust is the first SGX-listed Asia-Pacific retail business trust with a portfolio located in Japan. It is principally focused on investing in a diversified portfolio of predominantly retail real estate assets located in the Asia Pacific region.
Its holdings include Aeon Town Moriya, Aeon Town Suzuka, Mallage Shobu, Luz Omori, One’s Mall, Croesus Shinsaibashi, Croesus Tachikawa, Torius, Fuji Grand Natalie, Mallage Saga and Feeeal Asahikawa.
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In a disclosure to the Singapore Exchange, the Japan-focused property operator said it has sold its interest in Croesus Shinsaibashi through Mangosteen TMK.

SGX-listed Croesus Retail Trust sells Japan mall stake for $186m

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SGX-listed Croesus Retail Trust sells Japan mall stake for $186m

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