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