CRT to acquire two Tokyo retail properties

CROESUS Retail Trust (CRT) has agreed to acquire two retail properties in Tokyo for 14.25 billion yen (S$176.7 million) and is gunning for more properties in Japan this year.

Its trustee-manager said yesterday that it is paying 3.45 billion yen for Luz Omori in Ota Ward from Godo Kaisha Omori Kaihatsu and 10.8 billion yen for NIS Wave I in Tachikawa City from Godo Kaisha Wave I.

These properties were part of CRT's ROFR (right of first refusal) agreements with its strategic partners at the time of listing.