Mitsubishi Estate Co., Ltd. (TSE:8802) agreed to acquire Shibuya Cross Tower from Japan Real Estate Asset Management Co., Ltd. for ¥10 billion on January 11, 2018. The purchase price will be paid as lump sum payment at closing. The execution of the agreement for the transaction is expected to take place on January 12, 2018 and is expected to close by January 18, 2018.

Daiwa Real Estate Institute acted as appraiser in the transaction.