Blackstone exits logistics portfolio
Blackstone has announced the sale of a portfolio of six logistics assets located across Japan to GIC for more than US$800m in another successful exit. The portfolio was acquired from Daiwa House two years ago.
Osaka casino approved
Big news for the gaming and hospitality industry in Japan as the government gives MGM and Orix the green light to develop the country's first integrated resort in Osaka, which should provide a huge boost for tourism and the economy in the Kansai region
Japan maintains its ultra-loose monetary policy
Positive news for real estate investors in Japan - new BOJ governor is to maintain the country’s ultra-loose monetary policy for the foreseeable future. Many investors had been projecting a near-term adjustment in the policy, in particular to the yield curve control and negative rate measures.
KKR & Gaw Capital to acquire the Hyatt Regency Tokyo
KKR and Gaw Capital have announced their planned acquisition of the 746-key Hyatt Regency Hotel in Shinjuku, Tokyo. The seller is one of Japan's major railway companies, Odakyu. The final price hasn't been disclosed, however, it is widely seen as a landmark hotel transaction for the Japan market.
Mori Building on a roll
Mori Building is certainly on a roll. Japan's premier developer is preparing to launch its 49-story Toranomon Hills Station Tower later this year, capping off a series of major redevelopments in the Toranomon area in central Tokyo. Shortly after the launch of this project, Mori will be launching a landmark urban redevelopment project, Azabudai Hills, nearby in the Azabudai-Kamiyacho area. Azabudai Hills is probably the most anticipated project in Tokyo at present, due to the project's sheer size (8.1 hectare site, floor area of close to 900,000sqm), and the Janu hotel, Aman residences, Thomas Heatherwick-designed retail component, and other features in the project.