SOFAZ told APA-Economics this is Sofaz’s first real estate investment in Japan. The property was purchased from Elliott Advisors Asia Limited and Orix Corporation.
Kirarito Ginza is located in Chou Avenue, Ginza, which is the most prestigious retail location in Japan. The property was built in 2014 and is one of the very few trophy assets recently completed in Ginza area. The gross floor area (GFA) of the property is approximately 15,647 m2. The asset is let to 47 tenants.
Commenting on the acquisition, Shahmar Movsumov, Executive Director of SOFAZ, stated: “We are delighted to have made our first foray into the Japanese real estate market. Our investment rationale for this asset is based on its capital preservation capacity, it is the best quality asset in the best location, coupled with its return enhancement potential over medium to long term”
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