One REIT Investment Corporation has agreed to acquire six properties across Japan for a combined $190 million, funded through a public unit offering, bank borrowings and existing cash, the Mizuho-managed trust said in an announcement.
The portfolio spans five hotel assets and the Kagurazaka Plaza Building office property in Tokyo’s Shinjuku ward.
Sale and purchase agreements were signed Thursday, with closing expected on 19 March.
Upon completion, One REIT’s portfolio will expand to 34 properties with total assets of JPY 152.1 billion, according to the announcement. The transaction marks the REIT’s fourth public-offering-linked acquisition since listing.
Read their press release here (Japanese)
