Two Japanese REITs acquire property assets worth $116m

Two Japanese REITs acquire property assets worth $116m

Residia Kamata V. Photo by Advance Residence Investment Corporation

Japanese real estate investment trusts (J-REITs) Advance Residence Investment Corporation (ADR) and Japan Logistics Fund Inc have separately acquired new properties in Japan worth a combined ¥12.5 billion ($116 million), according to the two firms’ disclosure today.

ADR announced its acquisition of Residia Kamata IV for ¥3.27 billion ($30.5 million) and Residia Kamata V for ¥2.28 billion ($21.5 million) from ITOCHU Corporation. The acquisitions were carried out by ADR’s asset management company, AD Investment Management Co (ADIM).

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