Starwood Capital has launched a takeover bid for Invesco’s Office REIT in Japan. The REIT has been attracting the attention of analysts for some time for its performance vs peers. It will be interesting to see if other private equity funds join the bidding process. If successful, this will be the first REIT buyout in the market since the Star Asia Group acquired the Sakura Sogo REIT in early 2020.
The first major hotel portfolio deal for some time in the Japan market – Blackstone acquires 8 hotels in Osaka and Kyoto from Kintetsu for USD550m
LVMH bucks global trends in the retail sector with the opening of two flagship stores in Tokyo over the past week – a brand new 500sqm Hermes store in Omotesando, and the relaunch of Louis Vuitton in Namiki-Dori Ginza following a full interior and exterior revamp of the store.
BentallGreenOak is on a roll with the acquisition of a major office building in Nagoya, Hirokoji Cross Tower, for circa USD370m from Mitsubishi Estate. This follows the news earlier this year on the acquisition by BGO of Avex’s HQ building in Aoyama in central Tokyo for close to 700m.
Aman Residences and its sister hotel brand Janu to headline Mori Building’s huge Toranomon-Azabudai urban redevelopment project in central Tokyo slated for completion in 2023