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Mapletree North Asia Commercial Trust to acquire 2 office properties in Greater Tokyo for $482.5 mil

Stanislaus Jude Chan
Stanislaus Jude Chan12/5/2019 03:17 PM GMT+08  • 3 min read
Mapletree North Asia Commercial Trust to acquire 2 office properties in Greater Tokyo for $482.5 mil
SINGAPORE (Dec 5): The trustee of Mapletree North Asia Commercial Trust (MNACT) has entered into agreements to acquire an effective interest of 98.47% in two office properties in Japan for a total acquisition cost of $482.5 million, the manager announced
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SINGAPORE (Dec 5): The trustee of Mapletree North Asia Commercial Trust (MNACT) has entered into agreements to acquire an effective interest of 98.47% in two office properties in Japan for a total acquisition cost of $482.5 million, the manager announced after market close on Dec 4.

The two freehold, multi-tenanted properties have a combined gross floor area (GFA) of 180,941 sqm and a net lettable area (NLA) of 91,583 sqm.

As at end-September, the properties have a weighted average lease expiry (WALE) by monthly gross rental income (GRI) of 3.4 years and an occupancy rate of 85.9%.

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