Hankyu Hanshin REIT, Inc. agreed to acquire H-CUBE MINAMIAOYAMA from Hankyu Hanshin Properties Corp. for ¥6.6 billion.
October 17, 2021
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Hankyu Hanshin REIT, Inc. (TSE:8977) agreed to acquire H-CUBE MINAMIAOYAMA from Hankyu Hanshin Properties Corp. for ¥6.6 billion on October 18, 2021. In a related transaction Hankyu Hanshin REIT, Inc. agreed to sell Sphere Tower Tennozu for ¥8.6 billion on October 18, 2021. Proceeds from funds procured from the transfer of Sphere Tower Tennozu will be used to finance the acquisition. The acquisition has been deliberated and approved by the investment management committee, the compliance committee and the Board of Directors Meeting of the Asset Management Company. Transaction is expected closed on December 14, 2021. DAIWA REAL ESTATE APPRAISAL CO., LTD acted as appraiser.
Hankyu Hanshin REIT, Inc., formerly Hankyu REIT, Inc. is a real estate investment trust (REIT) company. It aims to achieve stable earnings and sustainable growth of its investment assets to maximize investment value from mid- to long-term perspectives, by investing in commercial and office buildings mainly located in the Kansai area, which consists of Osaka, Kyoto, Hyogo, Nara, Shiga and Wakayama prefectures.Its top ten properties based on investment ratio were HEP Five, NU chayamachi, Shiodome East Side Building, Sphere Tower Tennoz, Takatsuki-Josai Shopping Center, Kitano Hankyu Building, LaLaport KOSHIEN (site), Dew Hankyu Yamada, LAXA Osaka and Namba-Hanshin Building. Hankyu REIT's asset manager is Hankyu REIT Asset Management, Inc.