Singapore
CAPITALAND Limited is acquiring three income-producing office buildings and one shopping mall in Greater Tokyo for 49.7 billion yen (S$620.1 million), in a move that beefs up its Japan portfolio from S$1.8 billion to S$2.5 billion.
"This latest acquisition will deepen the group's presence in Greater Tokyo through assets with stable yields and recurring cash flow," said Jason Leow, CEO of CapitaLand Mall Asia and group coordinating CEO for Asia.
"With a sizeable amount of assets under management, this enlarged portfolio in Greater Tokyo will also advance a long-term business strategy for the group's operations in Japan," he said.
Including transaction costs, the total investment for the...